Allspring Global Investments Holdings LLC Has $23.79 Million Holdings in Liberty Energy Inc. $LBRT

Allspring Global Investments Holdings LLC lessened its holdings in shares of Liberty Energy Inc. (NYSE:LBRT) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 1,993,726 shares of the company’s stock after selling 60,889 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Liberty Energy were worth $23,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Liberty Energy during the 1st quarter worth approximately $50,000. GAMMA Investing LLC lifted its holdings in shares of Liberty Energy by 281.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after acquiring an additional 3,193 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Liberty Energy by 45.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock worth $71,000 after acquiring an additional 1,392 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in shares of Liberty Energy during the 1st quarter worth approximately $161,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Liberty Energy during the 1st quarter worth approximately $162,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a report on Wednesday, October 8th. Barclays reaffirmed an “equal weight” rating and set a $12.00 price target (down previously from $14.00) on shares of Liberty Energy in a report on Monday. Wall Street Zen raised shares of Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Piper Sandler cut their price target on shares of Liberty Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Finally, Stifel Nicolaus cut their price target on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Liberty Energy presently has an average rating of “Hold” and a consensus price target of $14.85.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $11.97 on Friday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 9.21 and a beta of 0.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $11.53 and a 200 day simple moving average of $11.89. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $23.58.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $947.40 million during the quarter, compared to the consensus estimate of $967.05 million. Liberty Energy had a net margin of 5.29% and a return on equity of 6.01%. Liberty Energy’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Research analysts predict 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. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 4th. This is an increase from Liberty Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 3.0%. Liberty Energy’s payout ratio is 24.62%.

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.