Truist Financial Corp Purchases 10,766 Shares of Liberty Energy Inc. (NYSE:LBRT)

Truist Financial Corp grew its position in shares of Liberty Energy Inc. (NYSE:LBRT) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,862 shares of the company’s stock after buying an additional 10,766 shares during the period. Truist Financial Corp owned 0.05% of Liberty Energy worth $1,898,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its position in Liberty Energy by 2.5% during the first quarter. Diversified Trust Co now owns 20,617 shares of the company’s stock worth $427,000 after purchasing an additional 507 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Liberty Energy by 4.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,262 shares of the company’s stock valued at $296,000 after buying an additional 543 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Liberty Energy by 2.4% during the 1st quarter. Perigon Wealth Management LLC now owns 24,815 shares of the company’s stock valued at $514,000 after acquiring an additional 571 shares during the period. Andina Capital Management LLC boosted its holdings in shares of Liberty Energy by 3.9% in the second quarter. Andina Capital Management LLC now owns 18,599 shares of the company’s stock worth $389,000 after acquiring an additional 691 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Liberty Energy by 27.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Liberty Energy Stock Up 1.3 %

LBRT opened at $20.45 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $20.13 and its 200 day simple moving average is $21.36. Liberty Energy Inc. has a 52 week low of $16.69 and a 52 week high of $24.75. The stock has a market cap of $3.38 billion, a PE ratio of 8.15, a P/E/G ratio of 1.20 and a beta of 1.68.

Liberty Energy (NYSE:LBRT) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. Liberty Energy’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts expect that Liberty Energy Inc. will post 2.14 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, September 6th. Liberty Energy’s dividend payout ratio is currently 11.16%.

Insider Activity at Liberty Energy

In other Liberty Energy news, CFO Michael Stock sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.92, for a total transaction of $458,400.00. Following the completion of the sale, the chief financial officer now directly owns 765,207 shares in the company, valued at $17,538,544.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 95,000 shares of company stock valued at $1,945,650. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup dropped their price objective on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Piper Sandler cut their price objective on shares of Liberty Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays reduced their price objective on shares of Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Bank of America lowered their target price on shares of Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus reduced their price target on shares of Liberty Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Liberty Energy presently has an average rating of “Moderate Buy” and an average price target of $24.20.

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.