Knights of Columbus Asset Advisors LLC Reduces Holdings in Liberty Energy Inc. $LBRT

Knights of Columbus Asset Advisors LLC reduced its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 1.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 132,865 shares of the company’s stock after selling 1,767 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Liberty Energy were worth $1,525,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in shares of Liberty Energy by 4.2% during the second quarter. State of Alaska Department of Revenue now owns 169,477 shares of the company’s stock worth $1,945,000 after buying an additional 6,756 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Liberty Energy during the 2nd quarter worth approximately $979,000. GAMMA Investing LLC grew its stake in shares of Liberty Energy by 281.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock valued at $50,000 after purchasing an additional 3,193 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Liberty Energy in the 2nd quarter valued at approximately $456,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Liberty Energy by 61.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 77,369 shares of the company’s stock worth $935,000 after purchasing an additional 29,301 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Liberty Energy Stock Up 1.6%

Shares of NYSE LBRT opened at $13.12 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. Liberty Energy Inc. has a 52 week low of $9.50 and a 52 week high of $23.58. The firm has a 50-day moving average price of $11.44 and a 200 day moving average price of $12.02. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 10.09 and a beta of 0.74.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $0.08 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.4%. Liberty Energy’s dividend payout ratio (DPR) is 24.62%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LBRT. Wall Street Zen lowered shares of Liberty Energy from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. Piper Sandler reduced their target price on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Stifel Nicolaus dropped their price target on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Liberty Energy in a research note on Saturday, September 27th. Finally, Barclays dropped their price target on shares of Liberty Energy from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.05.

About Liberty Energy

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.