GAMMA Investing LLC Increases Stock Holdings in Liberty Energy Inc. $LBRT

GAMMA Investing LLC raised its stake in Liberty Energy Inc. (NYSE:LBRT) by 281.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,329 shares of the company’s stock after purchasing an additional 3,193 shares during the quarter. GAMMA Investing LLC’s holdings in Liberty Energy were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Liberty Energy by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 912,636 shares of the company’s stock valued at $14,447,000 after buying an additional 15,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Liberty Energy in the first quarter valued at about $761,000. Manning & Napier Advisors LLC purchased a new stake in shares of Liberty Energy in the first quarter valued at about $1,110,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Liberty Energy by 6.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company’s stock valued at $32,566,000 after acquiring an additional 118,878 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Liberty Energy by 52.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 47,850 shares of the company’s stock valued at $757,000 after acquiring an additional 16,551 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

Liberty Energy stock opened at $12.86 on Friday. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $23.58. The firm has a market capitalization of $2.08 billion, a PE ratio of 9.89 and a beta of 0.74. 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’s 50-day simple moving average is $11.44 and its 200 day simple moving average is $12.05.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.12 earnings per share (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 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Announces Dividend

The business also recently announced 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 dividend payout ratio is presently 24.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lowered 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. Barclays decreased their price target on Liberty Energy from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 29th. 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 research note on Monday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a research note on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.05.

Liberty Energy 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.