Thomist Capital Management LP Takes Position in Liberty Energy Inc. $LBRT

Thomist Capital Management LP acquired a new position in Liberty Energy Inc. (NYSE:LBRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 210,700 shares of the company’s stock, valued at approximately $2,446,000. Liberty Energy accounts for approximately 0.8% of Thomist Capital Management LP’s investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Shields Capital Management LLC bought a new stake in Liberty Energy during the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Liberty Energy during the 2nd quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Liberty Energy during the first quarter valued at $50,000. GAMMA Investing LLC raised its stake in shares of Liberty Energy by 281.1% in the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after purchasing an additional 3,193 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Liberty Energy by 45.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after acquiring an additional 1,392 shares during the period. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LBRT has been the topic of a number of recent research reports. Barclays upped their target price on Liberty Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $21.00 in a research note on Tuesday, October 21st. TD Cowen lifted their price objective on Liberty Energy from $10.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.36.

Liberty Energy Trading Up 2.5%

LBRT opened at $18.66 on Wednesday. The business has a fifty day moving average price of $15.48 and a 200 day moving average price of $13.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $23.58. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.66 and a beta of 0.72.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $947.40 million during the quarter, compared to analysts’ expectations of $967.05 million. Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. Sell-side analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.9%. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, December 4th. Liberty Energy’s dividend payout ratio is presently 32.14%.

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.