Geode Capital Management LLC Has $43.44 Million Stake in Liberty Energy Inc. $LBRT

Geode Capital Management LLC grew its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,783,862 shares of the company’s stock after buying an additional 5,927 shares during the period. Geode Capital Management LLC owned approximately 2.34% of Liberty Energy worth $43,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Liberty Energy by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company’s stock valued at $291,967,000 after acquiring an additional 1,128,491 shares during the period. American Century Companies Inc. raised its holdings in Liberty Energy by 6.4% in the first quarter. American Century Companies Inc. now owns 5,508,609 shares of the company’s stock worth $87,201,000 after purchasing an additional 330,520 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Liberty Energy by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company’s stock worth $39,696,000 after purchasing an additional 73,792 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Liberty Energy by 13.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,438,018 shares of the company’s stock valued at $38,593,000 after buying an additional 290,320 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Liberty Energy by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock valued at $24,815,000 after buying an additional 365,506 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Liberty Energy Trading Up 3.0%

NYSE LBRT opened at $17.67 on Wednesday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 15.78 and a beta of 0.72. The stock’s 50 day moving average price is $14.81 and its two-hundred day moving average price is $12.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.32. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $23.58.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share 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 business had revenue of $947.40 million for the quarter, compared to the consensus estimate of $967.05 million. During the same period in the prior year, the business earned $0.45 earnings per share. Liberty Energy’s revenue was down 16.8% compared to the same quarter last year. As a group, analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, December 4th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s dividend payout ratio (DPR) is presently 32.14%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler set a $16.00 target price on Liberty Energy and gave the stock a “neutral” rating in a report on Monday, October 20th. Wall Street Zen lowered Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. TD Cowen boosted their price objective on Liberty Energy from $10.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Citigroup raised Liberty Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.00 to $21.00 in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Energy has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Liberty Energy 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.