State of Alaska Department of Revenue Raises Stock Position in Liberty Energy Inc. $LBRT

State of Alaska Department of Revenue lifted its position in Liberty Energy Inc. (NYSE:LBRT) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 169,477 shares of the company’s stock after buying an additional 6,756 shares during the period. State of Alaska Department of Revenue owned approximately 0.10% of Liberty Energy worth $1,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Liberty Energy in the 1st quarter worth approximately $50,000. GAMMA Investing LLC grew its position in shares of Liberty Energy by 281.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after buying an additional 3,193 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Liberty Energy by 45.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock worth $71,000 after purchasing an additional 1,392 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in Liberty Energy during the 1st quarter worth approximately $161,000. Finally, Sowell Financial Services LLC purchased a new stake in Liberty Energy during the 1st quarter worth approximately $162,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analyst Ratings Changes

LBRT has been the topic of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, July 28th. Piper Sandler dropped their target price on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. Barclays dropped their target price on shares of Liberty Energy from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company boosted their target price on shares of Liberty Energy from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.05.

Liberty Energy Stock Up 1.1%

LBRT stock opened at $12.71 on Friday. The firm’s fifty day simple moving average is $11.44 and its 200-day simple moving average is $12.08. The company has a market capitalization of $2.06 billion, a P/E ratio of 9.78 and a beta of 0.74. 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 12 month low of $9.50 and a 12 month high of $23.58.

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

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $0.08 per share. 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 dividend payout ratio is 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.