Truist Financial Corp Has $988,000 Stock Holdings in Liberty Energy Inc. $LBRT

Truist Financial Corp lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 9.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 86,062 shares of the company’s stock after selling 9,252 shares during the period. Truist Financial Corp owned approximately 0.05% of Liberty Energy worth $988,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Yousif Capital Management LLC lifted its position in shares of Liberty Energy by 1.5% during the 1st quarter. Yousif Capital Management LLC now owns 62,536 shares of the company’s stock worth $990,000 after purchasing an additional 914 shares during the last quarter. Cooper Financial Group lifted its position in shares of Liberty Energy by 10.9% during the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock worth $184,000 after purchasing an additional 1,145 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Liberty Energy during the 1st quarter worth about $50,000. Finally, GAMMA Investing LLC lifted its position in shares of Liberty Energy by 281.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after purchasing an additional 3,193 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LBRT shares. Stifel Nicolaus cut their price objective on Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 28th. Barclays restated an “equal weight” rating and set a $12.00 price target (down from $14.00) on shares of Liberty Energy in a research note on Monday. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, October 8th. Finally, Piper Sandler lowered their price target on Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.85.

Liberty Energy Trading Up 2.1%

LBRT stock opened at $12.30 on Tuesday. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $23.58. The firm has a market cap of $1.99 billion, a P/E ratio of 9.46 and a beta of 0.74. The business’s 50 day moving average is $11.48 and its 200-day moving average is $11.91. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data 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). Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

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.