Spirit of America Management Corp NY Sells 3,000 Shares of Liberty Energy Inc. (NYSE:LBRT)

Spirit of America Management Corp NY lowered its holdings in Liberty Energy Inc. (NYSE:LBRT) by 42.9% in the first quarter, HoldingsChannel.com reports. The firm owned 4,000 shares of the company’s stock after selling 3,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Liberty Energy were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LBRT. Blue Trust Inc. boosted its stake in shares of Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company’s stock valued at $47,000 after buying an additional 2,111 shares during the period. Principal Securities Inc. boosted its stake in shares of Liberty Energy by 13.7% in the fourth quarter. Principal Securities Inc. now owns 15,334 shares of the company’s stock valued at $305,000 after buying an additional 1,849 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Liberty Energy by 27.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,989 shares of the company’s stock valued at $2,406,000 after buying an additional 26,036 shares during the period. Principal Financial Group Inc. lifted its position in shares of Liberty Energy by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 897,040 shares of the company’s stock valued at $17,842,000 after acquiring an additional 24,825 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in shares of Liberty Energy by 6.9% during the 4th quarter. Sanctuary Advisors LLC now owns 33,216 shares of the company’s stock valued at $637,000 after acquiring an additional 2,139 shares during the period. Institutional investors own 98.22% of the company’s stock.

Liberty Energy Price Performance

Shares of NYSE:LBRT opened at $13.01 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 8.61 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $12.16 and a 200 day simple moving average of $15.66. Liberty Energy Inc. has a one year low of $9.50 and a one year high of $24.43.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Liberty Energy had a net margin of 6.03% and a return on equity of 10.30%. The business had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Research analysts predict that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.08 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.32 annualized dividend and a yield of 2.46%. Liberty Energy’s dividend payout ratio is presently 21.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LBRT. Citigroup cut their target price on Liberty Energy from $16.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley cut their price objective on shares of Liberty Energy from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Royal Bank Of Canada downgraded shares of Liberty Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $24.00 to $19.00 in a report on Monday, March 24th. TD Cowen upped their price target on shares of Liberty Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on Liberty Energy from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.23.

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.