Spirit of America Management Corp NY Sells 3,000 Shares of Liberty Energy Inc. (NYSE:LBRT)

Spirit of America Management Corp NY lessened its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 42.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 3,000 shares during the period. Spirit of America Management Corp NY’s holdings in Liberty Energy were worth $63,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Liberty Energy by 10.8% during the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock worth $102,992,000 after buying an additional 505,634 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Liberty Energy by 83.5% during the 4th quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company’s stock worth $96,043,000 after acquiring an additional 2,197,352 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 196,619 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Liberty Energy by 28.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company’s stock worth $42,718,000 after acquiring an additional 480,957 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Liberty Energy by 7.9% during the 4th quarter. Northern Trust Corp now owns 2,067,391 shares of the company’s stock worth $41,120,000 after acquiring an additional 151,019 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LBRT shares. Citigroup decreased their target price on shares of Liberty Energy from $16.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus decreased their price objective on Liberty Energy from $23.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company raised their price objective on Liberty Energy from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, June 5th. JPMorgan Chase & Co. decreased their price target on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, Morgan Stanley decreased their price target on Liberty Energy from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.23.

Liberty Energy Trading Down 1.0%

LBRT stock opened at $13.01 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 8.61 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.91. The company has a fifty day moving average price of $12.16 and a two-hundred day moving average price of $15.66. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $24.43.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. The business had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same quarter in the previous year, the firm posted $0.48 EPS. Equities analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, June 6th. Liberty Energy’s dividend payout ratio is presently 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.