Sagefield Capital LP Invests $2.56 Million in Liberty Energy Inc. (NYSE:LBRT)

Sagefield Capital LP purchased a new position in Liberty Energy Inc. (NYSE:LBRT) during the 4th quarter, HoldingsChannel reports. The fund purchased 128,570 shares of the company’s stock, valued at approximately $2,557,000.

Several other institutional investors have also recently made changes to their positions in LBRT. Franklin Resources Inc. increased its holdings in shares of Liberty Energy by 83.5% in the fourth quarter. Franklin Resources Inc. now owns 4,828,712 shares of the company’s stock worth $96,043,000 after purchasing an additional 2,197,352 shares during the period. Balyasny Asset Management L.P. bought a new position in Liberty Energy in the fourth quarter valued at $20,337,000. American Century Companies Inc. increased its stake in Liberty Energy by 10.8% in the fourth quarter. American Century Companies Inc. now owns 5,178,089 shares of the company’s stock valued at $102,992,000 after acquiring an additional 505,634 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Liberty Energy by 28.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,147,698 shares of the company’s stock valued at $42,718,000 after acquiring an additional 480,957 shares during the last quarter. Finally, Norges Bank bought a new position in Liberty Energy in the fourth quarter valued at $8,140,000. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Performance

Liberty Energy stock opened at $12.24 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $12.80 and a 200-day moving average of $16.61. The firm has a market cap of $1.98 billion, a P/E ratio of 6.54 and a beta of 0.71. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $977.46 million during the quarter, compared to analyst estimates of $960.64 million. Liberty Energy had a net margin of 7.32% and a return on equity of 14.28%. During the same period in the prior year, the business posted $0.48 earnings per share. Sell-side analysts expect that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.61%. Liberty Energy’s dividend payout ratio is currently 21.19%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada cut Liberty Energy from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $24.00 to $19.00 in a research note on Monday, March 24th. Citigroup reduced their target price on Liberty Energy from $16.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Barclays reduced their target price on Liberty Energy from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Liberty Energy from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, TD Cowen upped their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Liberty Energy currently has an average rating of “Moderate Buy” and an average target price of $17.55.

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.