Liberty Energy Inc. $LBRT Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in Liberty Energy Inc. (NYSE:LBRT) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,469 shares of the company’s stock after acquiring an additional 36,618 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Liberty Energy worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LBRT. Wellington Shields Capital Management LLC acquired a new stake in Liberty Energy in the second quarter valued at about $29,000. Smartleaf Asset Management LLC raised its stake in shares of Liberty Energy by 213.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,607 shares of the company’s stock worth $42,000 after buying an additional 2,457 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Liberty Energy in the 2nd quarter valued at approximately $48,000. GAMMA Investing LLC boosted 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 valued at $50,000 after buying an additional 3,193 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Liberty Energy in the first quarter valued at approximately $50,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LBRT shares. Wall Street Zen cut Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Royal Bank Of Canada increased their price target on shares of Liberty Energy from $15.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Barclays boosted their price objective on shares of Liberty Energy from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Cowen restated a “hold” rating on shares of Liberty Energy in a research report on Wednesday, November 5th. Finally, TD Cowen lifted their price target on shares of Liberty Energy from $10.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Energy currently has an average rating of “Hold” and an average price target of $18.64.

Liberty Energy Stock Up 4.9%

LBRT stock opened at $18.33 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. The company’s 50 day simple moving average is $17.24 and its 200-day simple moving average is $13.76. Liberty Energy Inc. has a 12 month low of $9.50 and a 12 month high of $23.58. The firm has a market capitalization of $2.97 billion, a PE ratio of 16.37 and a beta of 0.47.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The company 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%. Liberty Energy’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, December 4th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.0%. Liberty Energy’s dividend payout ratio is 32.14%.

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. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin.