Liberty Energy Inc. $LBRT Shares Acquired by Bayforest Capital Ltd

Bayforest Capital Ltd increased its stake in Liberty Energy Inc. (NYSE:LBRT) by 6,389.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,831 shares of the company’s stock after purchasing an additional 63,832 shares during the quarter. Bayforest Capital Ltd’s holdings in Liberty Energy were worth $744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Liberty Energy by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 912,636 shares of the company’s stock valued at $14,447,000 after acquiring an additional 15,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Liberty Energy in the 1st quarter valued at about $761,000. Manning & Napier Advisors LLC acquired a new stake in Liberty Energy in the 1st quarter valued at about $1,110,000. Allspring Global Investments Holdings LLC lifted its holdings in Liberty Energy by 6.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,054,615 shares of the company’s stock valued at $32,566,000 after acquiring an additional 118,878 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Liberty Energy by 1,279.1% in the 1st quarter. GAMMA Investing LLC now owns 17,983 shares of the company’s stock valued at $285,000 after acquiring an additional 16,679 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Liberty Energy Stock Up 2.1%

Shares of Liberty Energy stock opened at $12.30 on Tuesday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 9.46 and a beta of 0.74. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $11.48 and a two-hundred day moving average price of $11.91. Liberty Energy Inc. has a 12-month low of $9.50 and a 12-month high of $23.58.

Liberty Energy (NYSE:LBRT) last announced its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Liberty Energy had a return on equity of 6.01% and a net margin of 5.29%.The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. Equities analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

LBRT has been the subject of a number of research analyst reports. Barclays reissued an “equal weight” rating and issued a $12.00 price target (down from $14.00) on shares of Liberty Energy in a report on Monday. Piper Sandler cut their price objective on Liberty Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Stifel Nicolaus cut their price objective on Liberty Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, July 28th. Wall Street Zen upgraded Liberty Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Liberty Energy in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.85.

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.