22,713 Shares in Liberty Energy Inc. (NYSE:LBRT) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Liberty Energy Inc. (NYSE:LBRT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,713 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Liberty Energy during the first quarter worth approximately $761,000. Manning & Napier Advisors LLC bought a new stake in Liberty Energy during the first quarter worth approximately $1,110,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Liberty Energy by 6.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company’s stock worth $32,566,000 after buying an additional 118,878 shares during the period. GAMMA Investing LLC raised its holdings in shares of Liberty Energy by 1,279.1% in the first quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock worth $285,000 after buying an additional 16,679 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Liberty Energy by 52.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 47,850 shares of the company’s stock worth $757,000 after buying an additional 16,551 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Stock Down 2.2%

Liberty Energy stock opened at $11.34 on Friday. The business has a fifty day moving average of $12.20 and a two-hundred day moving average of $14.74. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.84 billion, a P/E ratio of 7.51 and a beta of 0.66. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $24.43.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. Liberty Energy had a return on equity of 10.30% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, analysts forecast that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, September 4th. This represents a $0.32 dividend on an annualized basis and a yield of 2.82%. Liberty Energy’s dividend payout ratio is currently 21.19%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LBRT. Piper Sandler began coverage on Liberty Energy in a report on Tuesday. They issued a “neutral” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Citigroup reduced their price target on Liberty Energy from $16.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. TD Cowen increased their price target on Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, April 21st. Finally, Stifel Nicolaus reduced their price target on Liberty Energy from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Eight equities research 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 stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and an average price target of $15.65.

Liberty Energy Company Profile

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.