Park Avenue Securities LLC Makes New $456,000 Investment in Liberty Energy Inc. $LBRT

Park Avenue Securities LLC bought a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 39,747 shares of the company’s stock, valued at approximately $456,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Liberty Energy by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock worth $291,967,000 after purchasing an additional 1,128,491 shares in the last quarter. Nuveen LLC bought a new position in Liberty Energy in the 1st quarter valued at approximately $7,743,000. Callodine Capital Management LP bought a new position in shares of Liberty Energy during the 1st quarter valued at $5,517,000. American Century Companies Inc. lifted its holdings in shares of Liberty Energy by 6.4% during the 1st quarter. American Century Companies Inc. now owns 5,508,609 shares of the company’s stock valued at $87,201,000 after buying an additional 330,520 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Liberty Energy by 13.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,438,018 shares of the company’s stock worth $38,593,000 after purchasing an additional 290,320 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LBRT. Wall Street Zen lowered Liberty Energy from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Stifel Nicolaus decreased their price target on Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, July 28th. Wells Fargo & Company raised their price target on Liberty Energy from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, June 5th. Barclays decreased their price target on Liberty Energy from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. Finally, Piper Sandler decreased their price target 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 equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.05.

Liberty Energy Stock Performance

Shares of NYSE:LBRT opened at $12.72 on Tuesday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.78 and a beta of 0.63. 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 firm has a 50 day moving average of $11.44 and a 200 day moving average of $12.08.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, sell-side analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.32 dividend on an annualized basis and a yield of 2.5%. Liberty Energy’s payout ratio is 24.62%.

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.