78,386 Shares in Expand Energy Corporation $EXE Acquired by Brigade Capital Management LP

Key Points

• Brigade Capital Management LP acquired a new stake in Expand Energy Corporation, purchasing 78,386 shares valued at approximately $8.73 million, making it the firm's third largest holding.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, with an upcoming payment date of September 4th, representing an annualized yield of 2.3%.
• Analyst ratings for Expand Energy indicate a consensus of "Buy" with a current target price of $127.42, despite recent reductions in target prices from multiple investment firms.

Brigade Capital Management LP purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 78,386 shares of the company's stock, valued at approximately $8,726,000. Expand Energy comprises 1.1% of Brigade Capital Management LP's holdings, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Expand Energy in the 1st quarter valued at $3,757,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Expand Energy in the 1st quarter valued at about $1,179,000. Wedbush Securities Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $210,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $1,383,000. Finally, Bessemer Group Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $75,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Expand Energy

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

Expand Energy Stock Performance

Shares of NASDAQ:EXE traded down $1.15 during trading on Friday, reaching $95.51. 2,375,614 shares of the stock were exchanged, compared to its average volume of 2,974,081. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The firm has a market cap of $22.75 billion, a PE ratio of 244.90 and a beta of 0.46. The stock has a 50-day moving average price of $101.00 and a 200-day moving average price of $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 data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. Research analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

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

Analysts Set New Price Targets

EXE has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. KeyCorp decreased their price objective on shares of Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a research report on Wednesday. Tudor Pickering & Holt decreased their price objective on shares of Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. Roth Capital lowered shares of Expand Energy from a "buy" rating to a "neutral" rating and decreased their price target for the company from $125.00 to $98.00 in a research note on Monday, August 18th. Finally, The Goldman Sachs Group cut their price objective on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $127.12.

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.