Liberty Energy Inc. $LBRT Shares Sold by Ethic Inc.

Ethic Inc. lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 44.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,280 shares of the company’s stock after selling 9,893 shares during the period. Ethic Inc.’s holdings in Liberty Energy were worth $143,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its stake in Liberty Energy by 21.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 42,953 shares of the company’s stock worth $493,000 after purchasing an additional 7,705 shares in the last quarter. Alpha Wealth Funds LLC acquired a new stake in shares of Liberty Energy in the second quarter valued at approximately $202,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Liberty Energy in the second quarter valued at approximately $199,000. Mutual of America Capital Management LLC lifted its position in Liberty Energy by 5.7% during the second quarter. Mutual of America Capital Management LLC now owns 491,004 shares of the company’s stock worth $5,637,000 after buying an additional 26,408 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Liberty Energy by 16.3% during the second quarter. Stratos Wealth Partners LTD. now owns 14,887 shares of the company’s stock worth $171,000 after buying an additional 2,087 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Liberty Energy Stock Performance

NYSE LBRT opened at $18.08 on Friday. 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 company has a market cap of $2.93 billion, a P/E ratio of 16.14 and a beta of 0.74. The stock has a 50-day moving average of $12.80 and a two-hundred day moving average of $12.27. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $23.58.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. As a group, analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.36 annualized dividend and a yield of 2.0%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s dividend payout ratio is 32.14%.

Analysts Set New Price Targets

A number of analysts have issued reports on LBRT shares. Weiss Ratings downgraded Liberty Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Piper Sandler set a $16.00 price objective on shares of Liberty Energy and gave the company a “neutral” rating in a report on Monday, October 20th. Stifel Nicolaus cut their price objective on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 28th. The Goldman Sachs Group lifted their target price on shares of Liberty Energy from $11.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada increased their price target on shares of Liberty Energy from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.10.

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.