First Citizens Bank & Trust Co. Has $439,000 Position in Liberty Energy Inc. $LBRT

First Citizens Bank & Trust Co. grew its stake in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) by 206.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 38,259 shares of the company's stock after buying an additional 25,792 shares during the period. First Citizens Bank & Trust Co.'s holdings in Liberty Energy were worth $439,000 as of its most recent filing with the SEC.

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Other hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Liberty Energy in the first quarter worth about $50,000. GAMMA Investing LLC raised its position in Liberty Energy by 281.1% in 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. raised its position in Liberty Energy by 45.3% in 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. acquired a new position in Liberty Energy in the first quarter worth about $161,000. Finally, Stratos Wealth Partners LTD. raised its position in Liberty Energy by 16.3% in the second quarter. Stratos Wealth Partners LTD. now owns 14,887 shares of the company's stock worth $171,000 after purchasing an additional 2,087 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Liberty Energy Price Performance

LBRT opened at $16.43 on Monday. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $23.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.05. The company's 50 day simple moving average is $12.09 and its 200-day simple moving average is $12.04. The stock has a market capitalization of $2.66 billion, a P/E ratio of 14.67 and a beta of 0.74.

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Liberty Energy (NYSE:LBRT - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Liberty Energy had a net margin of 4.76% and a return on equity of 1.69%. The company had revenue of $947.40 million for the quarter, compared to the consensus estimate of $967.05 million. During the same period last year, the company earned $0.45 earnings per share. Liberty Energy's revenue for the quarter was down 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Increases Dividend

The business 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. This represents a $0.36 annualized dividend and a dividend yield of 2.2%. This is an increase from Liberty Energy's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, December 4th. Liberty Energy's payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

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Several research analysts recently issued reports on LBRT shares. Weiss Ratings lowered shares of Liberty Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Saturday. Citigroup raised shares of Liberty Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $12.00 to $21.00 in a research report on Tuesday, October 21st. Barclays increased their price target on shares of Liberty Energy from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 21st. The Goldman Sachs Group raised their price objective on shares of Liberty Energy from $11.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, October 21st. Finally, Stifel Nicolaus reduced their target price on Liberty Energy from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Liberty Energy presently has an average rating of "Hold" and a consensus target price of $16.10.

Read Our Latest Stock Analysis on LBRT

Liberty Energy Company 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.

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