Y Intercept Hong Kong Ltd Sells 187,711 Shares of Liberty Energy Inc. $LBRT

Y Intercept Hong Kong Ltd lessened its holdings in Liberty Energy Inc. (NYSE:LBRT) by 74.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,853 shares of the company’s stock after selling 187,711 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Liberty Energy were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LBRT. American Century Companies Inc. raised its stake in Liberty Energy by 10.6% in the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company’s stock worth $69,952,000 after buying an additional 584,774 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Liberty Energy by 21.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,967,041 shares of the company’s stock valued at $34,062,000 after acquiring an additional 529,023 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Liberty Energy by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company’s stock valued at $24,815,000 after acquiring an additional 365,506 shares during the period. Sourcerock Group LLC bought a new position in shares of Liberty Energy in the 2nd quarter worth $23,653,000. Finally, Bank of America Corp DE lifted its stake in shares of Liberty Energy by 32.9% during the 2nd quarter. Bank of America Corp DE now owns 1,852,813 shares of the company’s stock worth $21,270,000 after purchasing an additional 458,285 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research upgraded Liberty Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. TD Cowen lifted their price objective on shares of Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday. Piper Sandler raised shares of Liberty Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $17.00 to $32.00 in a research report on Monday. Morgan Stanley raised their target price on shares of Liberty Energy from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wall Street Zen downgraded Liberty Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Liberty Energy has an average rating of “Hold” and an average target price of $23.55.

Liberty Energy Stock Up 5.8%

NYSE:LBRT opened at $26.08 on Tuesday. The company has a market cap of $4.22 billion, a PE ratio of 29.30 and a beta of 0.49. Liberty Energy Inc. has a twelve month low of $9.50 and a twelve month high of $27.21. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $19.60 and its two-hundred day moving average is $15.43.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.21. Liberty Energy had a net margin of 3.69% and a return on equity of 1.24%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $880.59 million. During the same quarter last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts anticipate that Liberty Energy Inc. will post 0.58 EPS for the current year.

Liberty Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. Liberty Energy’s payout ratio is currently 40.45%.

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.