Bank of New York Mellon Corp Has $28.43 Million Stock Position in Liberty Energy Inc. (NYSE:LBRT)

Bank of New York Mellon Corp trimmed its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 17.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,796,052 shares of the company’s stock after selling 386,235 shares during the quarter. Bank of New York Mellon Corp owned 1.11% of Liberty Energy worth $28,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in LBRT. CIBC Private Wealth Group LLC boosted its holdings in shares of Liberty Energy by 257.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,583 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Liberty Energy in the 4th quarter worth approximately $99,000. Meeder Asset Management Inc. acquired a new position in shares of Liberty Energy in the 4th quarter worth approximately $120,000. Sowell Financial Services LLC acquired a new position in shares of Liberty Energy in the 1st quarter worth approximately $162,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Liberty Energy in the 4th quarter worth approximately $195,000. 98.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on LBRT shares. Cowen reissued a “hold” rating on shares of Liberty Energy in a report on Monday, April 21st. Piper Sandler initiated coverage on shares of Liberty Energy in a research report on Tuesday. They issued a “neutral” rating and a $14.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 5th. TD Cowen boosted their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, April 21st. Finally, Royal Bank Of Canada cut shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $24.00 to $19.00 in a research report on Monday, March 24th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.65.

Liberty Energy Trading Down 0.5%

NYSE:LBRT opened at $11.16 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $12.23 and a 200-day moving average price of $14.85. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 7.39 and a beta of 0.66. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $24.43.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. The business had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. During the same period last year, the business earned $0.48 EPS. Equities analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, September 4th. Liberty Energy’s dividend payout ratio is currently 21.19%.

About Liberty Energy

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.