Brigade Capital Management LP Makes New $9.65 Million Investment in Expand Energy Corporation $EXE

Brigade Capital Management LP acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 105,871 shares of the company's stock, valued at approximately $9,649,000. Expand Energy comprises about 1.8% of Brigade Capital Management LP's portfolio, making the stock its 2nd biggest holding.

Other large investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp raised its stake in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after buying an additional 100 shares during the period. Eastern Bank acquired a new stake in Expand Energy during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. lifted its stake in Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after buying an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Expand Energy in the fourth quarter valued at approximately $30,000. Finally, Ascentis Independent Advisors acquired a new position in Expand Energy in the 1st quarter worth $32,000. Institutional investors own 97.93% of the company's stock.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Expand Energy Stock Performance

Shares of NASDAQ EXE opened at $96.33 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $22.30 billion, a P/E ratio of 8.32 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 stock has a 50 day moving average of $91.10 and a 200-day moving average of $97.42.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results 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. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on EXE shares. Weiss Ratings downgraded Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Barclays cut their price objective on shares of Expand Energy from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Johnson Rice cut shares of Expand Energy from a "buy" rating to an "accumulate" rating and reduced their target price for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Finally, UBS Group decreased their target price on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Expand Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

Expand Energy Company 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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