Raymond James Financial Inc. purchased a new position in Liberty Energy Inc. (NYSE:LBRT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 341,475 shares of the company's stock, valued at approximately $6,792,000. Raymond James Financial Inc. owned 0.21% of Liberty Energy at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Liberty Energy by 17.1% during the third quarter. FMR LLC now owns 18,115,282 shares of the company's stock worth $345,821,000 after acquiring an additional 2,640,119 shares during the period. JPMorgan Chase & Co. raised its position in Liberty Energy by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,146,179 shares of the company's stock valued at $60,061,000 after purchasing an additional 1,193,918 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Liberty Energy by 285.1% in the 3rd quarter. Bridgewater Associates LP now owns 700,814 shares of the company's stock worth $13,379,000 after buying an additional 518,830 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Liberty Energy by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,779,906 shares of the company's stock worth $72,173,000 after buying an additional 207,527 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Liberty Energy by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,433,866 shares of the company's stock worth $48,410,000 after buying an additional 196,619 shares in the last quarter. Institutional investors own 98.22% of the company's stock.
Liberty Energy Stock Performance
NYSE LBRT traded up $0.79 on Thursday, hitting $16.21. 3,069,352 shares of the company's stock traded hands, compared to its average volume of 3,436,317. The firm has a market capitalization of $2.63 billion, a PE ratio of 8.67 and a beta of 1.58. Liberty Energy Inc. has a 1-year low of $13.85 and a 1-year high of $24.75. The firm's 50-day moving average price is $17.70 and its two-hundred day moving average price is $18.55. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20.
Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. As a group, analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.
Liberty Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.08 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.32 annualized dividend and a yield of 1.97%. Liberty Energy's dividend payout ratio is presently 17.11%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on LBRT. Citigroup upped their price objective on shares of Liberty Energy from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Morgan Stanley upgraded shares of Liberty Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $20.00 to $25.00 in a research note on Thursday. Wells Fargo & Company reduced their price objective on shares of Liberty Energy from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Atb Cap Markets raised Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, TD Cowen cut their price objective on shares of Liberty Energy from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Liberty Energy presently has an average rating of "Moderate Buy" and a consensus target price of $21.90.
Read Our Latest Report on Liberty Energy
Insider Activity at Liberty Energy
In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.82, for a total value of $416,400.00. Following the completion of the sale, the chief financial officer now owns 680,207 shares in the company, valued at approximately $14,161,909.74. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 40,000 shares of company stock valued at $808,350. 1.90% of the stock is owned by insiders.
About Liberty Energy
(
Free Report)
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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