Thomist Capital Management LP Makes New Investment in Liberty Energy Inc. $LBRT

Thomist Capital Management LP has acquired 210,700 shares of Liberty Energy Inc., valued at approximately $2.45 million, making it 0.8% of their portfolio. Other institutional investors have also adjusted their stakes in Liberty Energy. Analysts have varied ratings on the stock, with a consensus price target of $17.36. Liberty Energy's recent earnings missed estimates, and the company announced a quarterly dividend.

Thomist Capital Management LP purchased a new position in shares of Liberty Energy Inc. (NYSE:LBRT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 210,700 shares of the company's stock, valued at approximately $2,446,000. Liberty Energy accounts for about 0.8% of Thomist Capital Management LP's portfolio, making the stock its 21st largest position. Thomist Capital Management LP owned approximately 0.13% of Liberty Energy as of its most recent filing with the SEC.

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Several other institutional investors and hedge funds have also added to or reduced their stakes in LBRT. Vanguard Group Inc. boosted its position in Liberty Energy by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 18,443,909 shares of the company's stock worth $291,967,000 after buying an additional 1,128,491 shares during the period. American Century Companies Inc. boosted its position in Liberty Energy by 10.6% during the second quarter. American Century Companies Inc. now owns 6,093,383 shares of the company's stock valued at $69,952,000 after acquiring an additional 584,774 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Liberty Energy by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,507,658 shares of the company's stock worth $39,696,000 after acquiring an additional 73,792 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Liberty Energy by 13.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,438,018 shares of the company's stock valued at $38,593,000 after purchasing an additional 290,320 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Liberty Energy by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 2,161,558 shares of the company's stock worth $24,815,000 after purchasing an additional 365,506 shares during the period. Institutional investors own 98.22% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have weighed in on LBRT shares. Barclays lifted their price target on shares of Liberty Energy from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 21st. Weiss Ratings restated a "hold (c-)" rating on shares of Liberty Energy in a report on Monday. Piper Sandler set a $16.00 price objective on Liberty Energy and gave the company a "neutral" rating in a research note on Monday, October 20th. Citigroup upgraded Liberty Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $12.00 to $21.00 in a research note on Tuesday, October 21st. Finally, Cowen reiterated a "hold" rating on shares of Liberty Energy in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Liberty Energy currently has an average rating of "Moderate Buy" and a consensus price target of $17.36.

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View Our Latest Analysis on LBRT

Liberty Energy Trading Up 2.5%

Shares of LBRT opened at $18.66 on Wednesday. Liberty Energy Inc. has a 1-year low of $9.50 and a 1-year high of $23.58. 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 firm's 50-day moving average price is $15.48 and its 200-day moving average price is $13.06. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.66 and a beta of 0.72.

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Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $947.40 million for the quarter, compared to analysts' expectations of $967.05 million. During the same period last year, the company posted $0.45 earnings per share. The business'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 EPS for the current year.

Liberty Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. 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 dividend payout ratio is 32.14%.

About Liberty Energy

(Free Report)

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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