New York State Teachers Retirement System Has $612,000 Stake in Liberty Energy Inc. $LBRT

New York State Teachers Retirement System decreased its position in Liberty Energy Inc. (NYSE:LBRT) by 31.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,319 shares of the company’s stock after selling 24,195 shares during the quarter. New York State Teachers Retirement System’s holdings in Liberty Energy were worth $612,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LBRT. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Liberty Energy in the 1st quarter valued at about $50,000. GAMMA Investing LLC grew its holdings in shares of Liberty Energy by 281.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,329 shares of the company’s stock valued at $50,000 after acquiring an additional 3,193 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Liberty Energy by 45.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,465 shares of the company’s stock valued at $71,000 after acquiring an additional 1,392 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new position in shares of Liberty Energy in the 1st quarter valued at about $161,000. Finally, Cooper Financial Group grew its holdings in shares of Liberty Energy by 10.9% in the 1st quarter. Cooper Financial Group now owns 11,641 shares of the company’s stock valued at $184,000 after acquiring an additional 1,145 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Trading Down 4.3%

Shares of LBRT stock opened at $15.23 on Thursday. The firm has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $11.93. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.47 billion, a PE ratio of 13.59 and a beta of 0.74. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $23.58.

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

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.4%. This is a boost from Liberty Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, December 4th. Liberty Energy’s dividend payout ratio (DPR) is 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LBRT shares. Stifel Nicolaus decreased their price objective on Liberty Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Energy in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on Liberty Energy from $11.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen cut Liberty Energy from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Citigroup upgraded Liberty Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.