281,828 Shares in Liberty Energy Inc. $LBRT Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Liberty Energy Inc. (NYSE:LBRT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 281,828 shares of the company’s stock, valued at approximately $3,235,000. Edgestream Partners L.P. owned approximately 0.17% of Liberty Energy at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Shields Capital Management LLC purchased a new position in shares of Liberty Energy in the second quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Liberty Energy in the 2nd quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Liberty Energy during the 1st quarter valued at about $50,000. GAMMA Investing LLC grew 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 valued at $50,000 after purchasing an additional 3,193 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew 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 valued at $71,000 after purchasing an additional 1,392 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Price Performance

Shares of Liberty Energy stock opened at $19.20 on Thursday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 17.14 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. The stock has a 50 day moving average price of $15.61 and a 200-day moving average price of $13.10. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $23.58.

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

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.09 per share. 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 1.9%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s dividend payout ratio is presently 32.14%.

Analysts Set New Price Targets

A number of research firms recently commented on LBRT. Barclays boosted 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 reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a report on Monday. Cowen reissued a “hold” rating on shares of Liberty Energy in a report on Wednesday, November 5th. TD Cowen boosted their price target on shares of Liberty Energy from $10.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, UBS Group started coverage on shares of Liberty Energy in a research note on Tuesday. They set a “buy” rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and an average price target of $17.36.

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.