Arrowstreet Capital Limited Partnership Purchases New Holdings in Expand Energy Corporation $EXE

Key Points

• Arrowstreet Capital initiated a significant position in Expand Energy, purchasing 95,571 shares worth approximately $10.5 million during the first quarter. Institutional investors now own 97.93% of the company.
• Expand Energy’s latest quarter produced adjusted EPS of $1.33, beating the $1.13 consensus estimate, although revenue of $2.96 billion fell short of expectations amid weaker natural-gas prices.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and a $129 target price, while the company maintains a $0.575 quarterly dividend. Risks include low gas prices, weaker revenue and potential infrastructure constraints.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 95,571 shares of the company's stock, valued at approximately $10,492,000.

Several other large investors also recently modified their holdings of EXE. Caxton Associates LLP increased its stake in Expand Energy by 200.7% in the 1st quarter. Caxton Associates LLP now owns 12,037 shares of the company's stock valued at $1,321,000 after buying an additional 8,034 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Expand Energy during the first quarter worth $483,000. Sei Investments Co. boosted its position in shares of Expand Energy by 86.9% in the first quarter. Sei Investments Co. now owns 251,984 shares of the company's stock valued at $27,663,000 after acquiring an additional 117,163 shares during the period. Lido Advisors LLC bought a new position in Expand Energy during the first quarter worth about $350,000. Finally, Cetera Investment Advisers boosted its stake in shares of Expand Energy by 7.8% in the first quarter. Cetera Investment Advisers now owns 39,239 shares of the company's stock valued at $4,308,000 after buying an additional 2,826 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at $881,755.92. This trade represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,000 shares of company stock worth $375,120 over the last three months. Insiders own 0.22% of the company's stock.

Key Stories Impacting Expand Energy

Here are the key news stories impacting Expand Energy this week:

• Positive Sentiment: Q2 earnings beat estimates: Expand Energy reported adjusted earnings of $1.33 per share, above the $1.13 consensus estimate. Higher production and lower operating costs helped offset weaker revenue and natural-gas prices. Expand Energy Q2 Earnings Beat Estimates on Strong Production
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $117 to $121 and maintained a Buy rating, while Morgan Stanley and UBS also reiterated or issued Buy ratings. These targets imply substantial potential upside from recent trading levels. Truist Raises Expand Energy Price Target Morgan Stanley Keeps Their Buy Rating on Expand Energy Expand Energy Receives a Buy from UBS
• Positive Sentiment: Growth strategy gains traction: The acquisition of Twin Eagle Holdings expands Expand Energy’s gas-marketing platform and could improve access to LNG, power and industrial customers. Management also retained its full-year production target and highlighted the potential for a larger buyback authorization. Expand Energy Sticks to Full-Year Production Goal Expand Energy Agrees to Buy Twin Eagle Holdings
• Neutral Sentiment: Barclays maintained a Hold rating, indicating that some analysts remain cautious despite the earnings beat and strategic expansion. Barclays Keeps Their Hold Rating on Expand Energy
• Negative Sentiment: Lower natural-gas prices, weaker quarterly revenue versus expectations and potential infrastructure constraints remain risks to near-term cash flow and the pace of growth.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday. Roth Capital reiterated a "neutral" rating and set a $93.00 price objective on shares of Expand Energy in a research note on Wednesday. Barclays lowered shares of Expand Energy from an "overweight" rating to a "reduce" rating in a report on Tuesday, May 26th. Citigroup cut their price target on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $94.03 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 1.11. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 8.12 and a beta of 0.34. The firm has a 50 day simple moving average of $89.98 and a 200 day simple moving average of $98.77.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. The business had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Research analysts predict that Expand Energy Corporation will post 8.66 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's dividend payout ratio (DPR) is currently 19.86%.

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.

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