Edgestream Partners L.P. Invests $3.24 Million in Liberty Energy Inc. $LBRT

Edgestream Partners L.P. purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 281,828 shares of the company’s stock, valued at approximately $3,235,000.

Several other hedge funds also recently bought and sold shares of the business. Wellington Shields Capital Management LLC purchased a new stake in Liberty Energy in the second quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Liberty Energy in the second quarter worth about $48,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Liberty Energy in the 1st quarter worth about $50,000. GAMMA Investing LLC lifted its holdings in Liberty Energy by 281.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock valued at $50,000 after buying an additional 3,193 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after buying an additional 1,392 shares during the period. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 3.0%

Shares of NYSE LBRT opened at $19.20 on Thursday. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $23.58. The stock’s fifty day simple moving average is $15.61 and its two-hundred day simple moving average is $13.10. The stock has a market capitalization of $3.11 billion, a PE ratio of 17.14 and a beta of 0.47. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings results on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a return on equity of 1.69% and a net margin of 4.76%.The company had revenue of $947.40 million during the quarter, compared to the consensus estimate of $967.05 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was down 16.8% on a year-over-year basis. As a group, analysts expect 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 of this dividend is Thursday, December 4th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. Liberty Energy’s payout ratio is currently 32.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. The Goldman Sachs Group raised their price objective on Liberty Energy from $11.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Royal Bank Of Canada upped their target price on Liberty Energy from $15.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $21.00 in a research report on Tuesday, October 21st. Finally, Cowen restated a “hold” rating on shares of Liberty Energy in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and an average target price of $17.36.

About Liberty Energy

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.