Allspring Global Investments Holdings LLC Has $43.02 Million Stake in Liberty Energy Inc. (NYSE:LBRT)

Allspring Global Investments Holdings LLC lowered its holdings in Liberty Energy Inc. (NYSE:LBRT) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,076,242 shares of the company’s stock after selling 1,936 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.25% of Liberty Energy worth $43,020,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in LBRT. EdgeRock Capital LLC acquired a new position in Liberty Energy during the 4th quarter worth about $27,000. Principal Securities Inc. acquired a new position in shares of Liberty Energy during the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC grew its stake in shares of Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in Liberty Energy in the 4th quarter worth approximately $63,000. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 3.1 %

Shares of Liberty Energy stock opened at $20.89 on Thursday. Liberty Energy Inc. has a 52-week low of $13.36 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. The business’s 50 day simple moving average is $22.21 and its 200 day simple moving average is $20.83. The firm has a market cap of $3.48 billion, a PE ratio of 7.62, a P/E/G ratio of 1.06 and a beta of 1.74.

Liberty Energy (NYSE:LBRT) last released its earnings results on Thursday, April 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. Liberty Energy’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, analysts predict that Liberty Energy Inc. will post 2.43 earnings per share for the current fiscal year.

Liberty Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. Liberty Energy’s payout ratio is 10.22%.

Analyst Ratings Changes

A number of brokerages have commented on LBRT. Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $32.00 in a research report on Wednesday, May 29th. Bank of America lifted their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a research note on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, TD Cowen upped their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Insiders Place Their Bets

In other news, CAO Ryan T. Gosney sold 2,000 shares of Liberty Energy stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.50, for a total value of $47,000.00. Following the completion of the transaction, the chief accounting officer now owns 170,882 shares of the company’s stock, valued at approximately $4,015,727. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Liberty Energy news, President Ron Gusek sold 50,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $22.99, for a total transaction of $1,149,500.00. Following the completion of the sale, the president now owns 1,213,259 shares of the company’s stock, valued at approximately $27,892,824.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ryan T. Gosney sold 2,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.50, for a total transaction of $47,000.00. Following the completion of the transaction, the chief accounting officer now owns 170,882 shares in the company, valued at $4,015,727. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,626 shares of company stock valued at $3,840,833. 3.70% of the stock is currently owned by corporate insiders.

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.