15,000 Shares in Expand Energy Corporation $EXE Bought by Fore Capital LLC

Key Points

• Fore Capital LLC purchased 15,000 shares of Expand Energy in the second quarter, valued at approximately $1.37 million. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $127.78, despite some recent target reductions.
• Expand Energy reported quarterly EPS of $1.33, beating estimates of $1.13, and declared a quarterly dividend of $0.575 per share, equivalent to a 2.4% annualized yield.

Fore Capital LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,000 shares of the company's stock, valued at approximately $1,368,000. Expand Energy makes up about 0.4% of Fore Capital LLC's investment portfolio, making the stock its 20th biggest position.

Other institutional investors have also bought and sold shares of the company. Siemens Fonds Invest GmbH grew its stake in shares of Expand Energy by 6.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock worth $147,000 after buying an additional 88 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after buying an additional 100 shares in the last quarter. McGowan Group Asset Management Inc. lifted its holdings in shares of Expand Energy by 0.4% in the 4th quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock valued at $2,657,000 after acquiring an additional 105 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Expand Energy by 25.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company's stock valued at $61,000 after acquiring an additional 110 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Expand Energy by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company's stock valued at $286,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXE. Wolfe Research reissued an "outperform" rating and set a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Johnson Rice lowered Expand Energy from a "buy" rating to an "accumulate" rating and lowered their price objective for the company from $135.00 to $125.00 in a research note on Monday. Benchmark lowered their price objective on Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Finally, Truist Financial boosted their price objective on shares of Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.78.

Expand Energy Trading Up 1.3%

NASDAQ EXE opened at $95.45 on Wednesday. The stock has a market cap of $22.10 billion, a PE ratio of 8.24 and a beta of 0.34. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The company's 50-day moving average price is $90.45 and its 200-day moving average price is $97.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.20. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. Equities research analysts forecast that Expand Energy Corporation will post 8.92 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's dividend payout ratio is 19.86%.

Insider Transactions at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares of the company's stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

Expand Energy Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.

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