Palogic Value Management L.P. Buys New Shares in Liberty Energy Inc. (NYSE:LBRT)

Palogic Value Management L.P. bought a new position in shares of Liberty Energy Inc. (NYSE:LBRT) during the fourth quarter, HoldingsChannel reports. The firm bought 75,000 shares of the company’s stock, valued at approximately $1,492,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Liberty Energy by 604.9% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock worth $47,000 after acquiring an additional 2,111 shares during the period. CIBC Private Wealth Group LLC lifted its position in Liberty Energy by 257.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company’s stock worth $47,000 after purchasing an additional 1,583 shares during the period. Spire Wealth Management bought a new position in Liberty Energy in the fourth quarter worth $60,000. Smartleaf Asset Management LLC boosted its stake in Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company’s stock worth $67,000 after buying an additional 2,184 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Liberty Energy in the 4th quarter valued at $99,000. 98.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Liberty Energy from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Barclays reduced their price objective on shares of Liberty Energy from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Cowen reaffirmed a “hold” rating on shares of Liberty Energy in a report on Monday, April 21st. TD Cowen raised their price objective on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, April 21st. Finally, Citigroup reduced their price objective on shares of Liberty Energy from $16.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Liberty Energy presently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Liberty Energy Trading Up 1.2%

Shares of Liberty Energy stock opened at $11.85 on Wednesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 6.34 and a beta of 0.71. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20. The company has a 50-day simple moving average of $12.41 and a 200 day simple moving average of $16.32. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $24.75.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $977.46 million during the quarter, compared to analysts’ expectations of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same quarter last year, the company posted $0.48 EPS. Research analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, June 6th. Liberty Energy’s dividend payout ratio (DPR) is currently 21.19%.

Liberty Energy Company 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.