PNC Financial Services Group Inc. Has $71,000 Stake in Liberty Energy Inc. $LBRT

PNC Financial Services Group Inc. lifted its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 45.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,465 shares of the company’s stock after buying an additional 1,392 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Liberty Energy were worth $71,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LBRT. LPL Financial LLC raised its position in shares of Liberty Energy by 35.7% in the 4th quarter. LPL Financial LLC now owns 14,788 shares of the company’s stock worth $294,000 after acquiring an additional 3,887 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Liberty Energy during the 4th quarter worth approximately $214,000. Renaissance Technologies LLC grew its position in shares of Liberty Energy by 23.8% during the 4th quarter. Renaissance Technologies LLC now owns 58,300 shares of the company’s stock worth $1,160,000 after buying an additional 11,200 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Liberty Energy in the 4th quarter valued at $6,792,000. Finally, Barclays PLC boosted its stake in Liberty Energy by 31.3% during the fourth quarter. Barclays PLC now owns 376,401 shares of the company’s stock worth $7,487,000 after acquiring an additional 89,740 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LBRT shares. Morgan Stanley cut their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their target price on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Stifel Nicolaus decreased their price target on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 28th. Piper Sandler reduced their price objective on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.05.

Liberty Energy Stock Performance

NYSE LBRT opened at $10.6480 on Thursday. The company has a fifty day moving average price of $12.01 and a 200-day moving average price of $13.22. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 8.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. Liberty Energy Inc. has a 1 year low of $9.50 and a 1 year high of $23.58.

Liberty Energy (NYSE:LBRT) last released its quarterly 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities research analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

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