Sumitomo Mitsui Trust Group Inc. Sells 8,630 Shares of Liberty Energy Inc. $LBRT

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 18.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,220 shares of the company’s stock after selling 8,630 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Liberty Energy were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LBRT. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Liberty Energy during the second quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Liberty Energy during the first quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Liberty Energy by 281.1% during the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after acquiring an additional 3,193 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock worth $71,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Liberty Energy during the first quarter worth $161,000. 98.22% of the stock is owned by institutional investors.

Liberty Energy Trading Down 3.5%

NYSE LBRT opened at $18.08 on Friday. The stock’s 50-day simple moving average is $12.80 and its two-hundred day simple moving average is $12.27. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $23.58. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 16.14 and a beta of 0.74.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results 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 net margin of 4.76% and a return on equity of 1.69%. The firm had revenue of $947.40 million for the quarter, compared to analysts’ expectations of $967.05 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. Research analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company 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 dividend of $0.09 per share. The ex-dividend date is Thursday, December 4th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.0%. Liberty Energy’s dividend payout ratio (DPR) is 32.14%.

Analysts Set New Price Targets

Several research firms have issued reports on LBRT. Piper Sandler set a $16.00 target price on Liberty Energy and gave the stock a “neutral” rating in a research report on Monday, October 20th. Royal Bank Of Canada increased their target price on Liberty Energy from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. Barclays increased their target price on Liberty Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Weiss Ratings downgraded Liberty Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, The Goldman Sachs Group increased their price objective on Liberty Energy from $11.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. 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 company. According to MarketBeat, the company 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.