New York State Common Retirement Fund Has $5.86 Million Stock Position in Liberty Energy Inc. (NYSE:LBRT)

New York State Common Retirement Fund raised its stake in Liberty Energy Inc. (NYSE:LBRT) by 57.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,258 shares of the company’s stock after acquiring an additional 135,354 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of Liberty Energy worth $5,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its holdings in shares of Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock valued at $47,000 after purchasing an additional 1,583 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Liberty Energy in the 4th quarter valued at $99,000. Meeder Asset Management Inc. bought a new stake in shares of Liberty Energy during the fourth quarter worth $120,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Liberty Energy during the first quarter valued at $161,000. Finally, Sowell Financial Services LLC bought a new position in Liberty Energy in the first quarter valued at about $162,000. 98.22% of the stock is owned by institutional investors.

Liberty Energy Stock Performance

Shares of Liberty Energy stock opened at $11.34 on Monday. The stock’s fifty day simple moving average is $12.20 and its 200 day simple moving average is $14.66. 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 market capitalization of $1.84 billion, a PE ratio of 7.51 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy’s payout ratio is currently 21.19%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Cowen reissued a “hold” rating on shares of Liberty Energy in a report on Monday, April 21st. Piper Sandler started coverage on shares of Liberty Energy in a research note on Tuesday, July 15th. They set a “neutral” rating and a $14.00 price target for the company. Barclays reduced their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Liberty Energy from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company increased their price target on Liberty Energy from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, June 5th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.65.

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.