Manning & Napier Advisors LLC purchased a new stake in shares of Liberty Energy Inc. (NYSE:LBRT – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 70,094 shares of the company’s stock, valued at approximately $1,110,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Liberty Energy by 1,279.1% during the 1st quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock valued at $285,000 after purchasing an additional 16,679 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Liberty Energy by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 897,040 shares of the company’s stock worth $17,842,000 after buying an additional 24,825 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Liberty Energy during the fourth quarter valued at approximately $6,792,000. Two Sigma Advisers LP purchased a new stake in shares of Liberty Energy during the fourth quarter valued at approximately $2,779,000. Finally, Yousif Capital Management LLC increased its position in shares of Liberty Energy by 1.5% during the first quarter. Yousif Capital Management LLC now owns 62,536 shares of the company’s stock valued at $990,000 after acquiring an additional 914 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.
Liberty Energy Trading Down 7.6%
Shares of NYSE:LBRT opened at $11.99 on Tuesday. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $24.43. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 7.94 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.20. The stock’s 50-day simple moving average is $12.18 and its two-hundred day simple moving average is $15.59.
Liberty Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, June 6th. Liberty Energy’s dividend payout ratio is presently 21.19%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on LBRT shares. Morgan Stanley lowered their price objective on Liberty Energy from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group decreased their price target on Liberty Energy from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company increased their price objective on Liberty Energy from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Thursday, June 5th. Royal Bank Of Canada downgraded Liberty Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $24.00 to $19.00 in a report on Monday, March 24th. Finally, Citigroup lowered their target price on shares of Liberty Energy from $16.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.
Get Our Latest Report on Liberty Energy
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.
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