Alden Global Capital LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• Alden Global Capital LLC has invested approximately $7.84 million in Expand Energy Corporation, acquiring 70,399 shares, making it the firm's 5th largest position.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, equating to an annualized yield of 2.3%, with a high payout ratio of 589.74%.
• Analysts have a positive outlook on Expand Energy, with an average rating of "Buy" and a target price of $127.42, supported by recent price target adjustments from various investment firms.

Alden Global Capital LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,399 shares of the company's stock, valued at approximately $7,837,000. Expand Energy comprises approximately 8.4% of Alden Global Capital LLC's investment portfolio, making the stock its 5th largest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in Expand Energy during the first quarter valued at about $27,000. Harbour Investments Inc. bought a new position in Expand Energy during the first quarter worth about $27,000. First Horizon Advisors Inc. bought a new position in Expand Energy during the first quarter worth about $28,000. Quarry LP bought a new position in Expand Energy during the first quarter worth about $28,000. Finally, Pinney & Scofield Inc. bought a new position in Expand Energy during the first quarter worth about $29,000. Institutional investors own 97.93% of the company's stock.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the company's stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the acquisition, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joshua J. Viets bought 2,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the acquisition, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This represents a 3.35% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

EXE has been the topic of a number of recent analyst reports. Roth Capital downgraded shares of Expand Energy from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Monday, August 18th. Scotiabank reissued an "outperform" rating on shares of Expand Energy in a report on Wednesday, August 13th. Barclays increased their price target on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Capital One Financial lowered their target price on shares of Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Finally, Tudor Pickering & Holt lowered their target price on shares of Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $127.12.

Expand Energy Price Performance

Shares of EXE stock traded down $1.15 during trading hours on Friday, hitting $95.51. 2,375,614 shares of the company's stock were exchanged, compared to its average volume of 2,974,081. The company has a market capitalization of $22.75 billion, a PE ratio of 244.90 and a beta of 0.46. Expand Energy Corporation has a 12-month low of $69.12 and a 12-month high of $123.35. The business's 50 day simple moving average is $101.00 and its 200-day simple moving average is $106.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a return on equity of 5.76% and a net margin of 2.41%.The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. On average, equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's payout ratio is 589.74%.

About Expand Energy

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.