Liberty Energy Inc. $LBRT Shares Acquired by Callodine Capital Management LP

Callodine Capital Management LP increased its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 203.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057,000 shares of the company’s stock after acquiring an additional 708,453 shares during the quarter. Liberty Energy comprises approximately 1.3% of Callodine Capital Management LP’s portfolio, making the stock its 27th largest holding. Callodine Capital Management LP owned about 0.65% of Liberty Energy worth $12,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Liberty Energy by 6.5% during the first quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock worth $291,967,000 after purchasing an additional 1,128,491 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Liberty Energy by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock valued at $69,952,000 after purchasing an additional 584,774 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Liberty Energy by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company’s stock worth $39,696,000 after buying an additional 73,792 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Liberty Energy by 13.5% during the first quarter. The Manufacturers Life Insurance Company now owns 2,438,018 shares of the company’s stock worth $38,593,000 after buying an additional 290,320 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Liberty Energy by 20.4% in the second quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock valued at $24,815,000 after buying an additional 365,506 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Down 0.7%

Shares of NYSE:LBRT opened at $19.54 on Friday. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week 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 firm’s 50-day simple moving average is $15.89 and its 200-day simple moving average is $13.21. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 17.45 and a beta of 0.47.

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

Liberty Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.09 per share. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 4th. Liberty Energy’s dividend payout ratio is currently 32.14%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LBRT shares. TD Cowen raised their target price 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. Royal Bank Of Canada raised their price objective on shares of Liberty Energy from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Barclays lifted their price objective on shares of Liberty Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a research note on Monday, December 1st. Finally, UBS Group initiated coverage on Liberty Energy in a report on Tuesday. They set a “buy” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.