Swiss National Bank Trims Stock Holdings in Liberty Energy Inc. $LBRT

Swiss National Bank cut its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,800 shares of the company’s stock after selling 8,300 shares during the period. Swiss National Bank owned 0.19% of Liberty Energy worth $4,762,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Liberty Energy by 45.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after purchasing an additional 1,392 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in Liberty Energy in the 1st quarter valued at about $161,000. Sowell Financial Services LLC purchased a new stake in Liberty Energy during the 1st quarter valued at approximately $162,000. Personal CFO Solutions LLC acquired a new stake in Liberty Energy during the 1st quarter worth approximately $191,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Liberty Energy in the 1st quarter valued at approximately $197,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

LBRT has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Barclays cut their price target on shares of Liberty Energy from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on Liberty Energy from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 5th. Morgan Stanley cut their target price on Liberty Energy from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Piper Sandler dropped their price objective on Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Liberty Energy currently has an average rating of “Moderate Buy” and an average price target of $15.05.

Liberty Energy Trading Down 1.2%

NYSE:LBRT opened at $10.7910 on Wednesday. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $23.58. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $12.06 and a 200-day simple moving average of $13.23. The company has a market capitalization of $1.75 billion, a PE ratio of 8.30 and a beta of 0.67.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, September 4th. Liberty Energy’s dividend payout ratio is currently 24.62%.

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.