Mutual of America Capital Management LLC Grows Stake in Liberty Energy Inc. $LBRT

Mutual of America Capital Management LLC lifted its stake in shares of Liberty Energy Inc. (NYSE:LBRT) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 491,004 shares of the company’s stock after purchasing an additional 26,408 shares during the period. Mutual of America Capital Management LLC owned about 0.30% of Liberty Energy worth $5,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Liberty Energy during the first quarter worth about $50,000. GAMMA Investing LLC increased its stake in shares of Liberty Energy by 281.1% during the second quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock worth $50,000 after purchasing an additional 3,193 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Liberty Energy by 45.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock worth $71,000 after purchasing an additional 1,392 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in shares of Liberty Energy during the first quarter worth about $161,000. Finally, Cooper Financial Group increased its stake in shares of Liberty Energy by 10.9% during the first quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock worth $184,000 after purchasing an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 0.4%

Shares of NYSE LBRT opened at $15.92 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.58 billion, a PE ratio of 14.21 and a beta of 0.74. The company has a 50-day moving average of $11.81 and a 200 day moving average of $11.91. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $23.58.

Liberty Energy (NYSE:LBRT) last posted its earnings results on Thursday, October 16th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $947.40 million during the quarter, compared to analyst estimates of $967.05 million. Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts predict that Liberty Energy Inc. will post 0.58 EPS for the current fiscal year.

Liberty Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 4th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.08. Liberty Energy’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

Several analysts recently issued reports on LBRT shares. Royal Bank Of Canada upped their price objective on shares of Liberty Energy from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday. Wall Street Zen cut shares of Liberty Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, October 8th. Citigroup raised shares of Liberty Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $12.00 to $21.00 in a research note on Tuesday. Finally, Stifel Nicolaus dropped their price objective on shares of Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.10.

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.