Liberty Energy Inc. $LBRT Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in Liberty Energy Inc. (NYSE:LBRT) by 112.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,055 shares of the company’s stock after purchasing an additional 20,158 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Liberty Energy were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Liberty Energy by 1.7% in the first quarter. Principal Financial Group Inc. now owns 912,636 shares of the company’s stock valued at $14,447,000 after purchasing an additional 15,596 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Liberty Energy in the first quarter valued at about $761,000. Allspring Global Investments Holdings LLC lifted its position in 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 purchasing an additional 118,878 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in 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 purchasing an additional 16,551 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Liberty Energy by 37.7% in the first quarter. Russell Investments Group Ltd. now owns 231,722 shares of the company’s stock valued at $3,668,000 after buying an additional 63,461 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LBRT. Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a report on Wednesday, October 8th. Piper Sandler set a $16.00 target price on shares of Liberty Energy and gave the company a “neutral” rating in a report on Monday. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.00 to $21.00 in a report on Tuesday. Finally, Barclays increased their target price on shares of Liberty Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday. Two investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.10.

Liberty Energy Trading Down 4.3%

Shares of LBRT opened at $15.23 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $11.88 and a 200-day simple moving average of $11.93. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $23.58. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 13.59 and a beta of 0.74.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The business had revenue of $947.40 million for the quarter, compared to analysts’ expectations of $967.05 million. During the same period last year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. Equities analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.09 per share. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.4%. Liberty Energy’s dividend payout ratio is 28.57%.

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.