Rhumbline Advisers Has $7.44 Million Stake in Liberty Energy Inc. $LBRT

by · The Cerbat Gem

Rhumbline Advisers decreased its position in Liberty Energy Inc. (NYSE:LBRT – Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 469,811 shares of the company’s stock after selling 12,101 shares during the quarter. Rhumbline Advisers owned 0.29% of Liberty Energy worth $7,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Yousif Capital Management LLC raised its stake in shares of Liberty Energy by 1.5% in the 1st quarter. Yousif Capital Management LLC now owns 62,536 shares of the company’s stock valued at $990,000 after purchasing an additional 914 shares during the period. Cooper Financial Group raised its stake in shares of Liberty Energy by 10.9% in the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock valued at $184,000 after purchasing an additional 1,145 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of 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 purchasing an additional 1,392 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Liberty Energy by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,110 shares of the company’s stock valued at $1,792,000 after purchasing an additional 1,703 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Liberty Energy in the 1st quarter valued at about $50,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analysts Set New Price Targets

LBRT has been the topic of several recent research reports. Morgan Stanley dropped their price target on Liberty Energy from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Barclays lowered their target price on Liberty Energy from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their target price 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. Finally, Stifel Nicolaus lowered their target price on Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.05.

Read Our Latest Research Report on LBRT

Liberty Energy Price Performance

NYSE:LBRT opened at $11.09 on Friday. The stock’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $12.46. The company has a market cap of $1.80 billion, a P/E ratio of 8.53 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 1.16. Liberty Energy Inc. has a 52-week low of $9.50 and a 52-week high of $23.58.

Liberty Energy (NYSE:LBRT – Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.Liberty Energy’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. As a group, sell-side analysts forecast that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, September 4th. Liberty Energy’s payout ratio is 24.62%.

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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