Assenagon Asset Management S.A. Sells 985,033 Shares of Expand Energy Corporation $EXE

Key Points

• Assenagon Asset Management cut its Expand Energy stake by 83.3%, selling 985,033 shares in the third quarter and retaining 198,065 shares valued at approximately $16.7 million.
• Institutional investors own 97.93% of EXE, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $122.89.
• Expand Energy reported quarterly EPS of $1.33, exceeding estimates of $1.13, and pays a quarterly dividend of $0.575 per share, representing a 2.5% annualized yield.

Assenagon Asset Management S.A. reduced its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 83.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,065 shares of the company's stock after selling 985,033 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Expand Energy worth $16,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eastern Bank bought a new position in shares of Expand Energy in the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. grew its position in Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after acquiring an additional 205 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Expand Energy during the first quarter worth approximately $32,000. N.E.W. Advisory Services LLC bought a new stake in Expand Energy during the second quarter worth approximately $32,000. Finally, Harbor Investment Advisory LLC bought a new stake in Expand Energy during the second quarter worth approximately $33,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EXE shares. Freedom Broker raised Expand Energy to a "strong-buy" rating in a research report on Thursday, September 3rd. Stifel Nicolaus assumed coverage on Expand Energy in a research report on Wednesday, September 9th. They issued a "buy" rating and a $135.00 price target for the company. Mizuho lowered their price target on Expand Energy from $145.00 to $138.00 and set an "outperform" rating for the company in a research report on Tuesday, October 6th. Benchmark dropped their price objective on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Finally, Barclays dropped their price objective on shares of Expand Energy from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Monday, August 17th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.89.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $93.41 on Monday. Expand Energy Corporation has a one year low of $83.25 and a one year high of $126.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The firm's 50 day simple moving average is $92.65 and its 200-day simple moving average is $93.29. The firm has a market cap of $21.62 billion, a PE ratio of 8.07 and a beta of 0.41.

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 for the quarter, beating the consensus estimate of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, equities analysts predict that Expand Energy Corporation will post 8.56 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a dividend of $0.5750 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, August 13th. Expand Energy's dividend payout ratio is 19.86%.

Expand Energy Company Profile

Expand Energy Corporation NASDAQ: EXE is an independent energy company focused on the exploration, development and production of natural gas, crude oil and natural gas liquids in the United States. The company's activities include drilling and operating unconventional oil and gas wells, primarily in major shale formations.

Expand Energy was formed through the combination of Chesapeake Energy Corporation and Southwestern Energy Company, a transaction completed in October 2024. Chesapeake's portfolio included assets in the Marcellus, Haynesville and Eagle Ford shale plays, while Southwestern was also a major operator in the Appalachian and Haynesville regions.

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