Carlson Capital L.P. Makes New $2.61 Million Investment in Expand Energy Corporation $EXE

Key Points

• Carlson Capital initiated a $2.61 million position in Expand Energy during the first quarter, purchasing 23,734 shares; the stock now represents about 0.8% of its portfolio. Institutional investors collectively own 97.93% of the company.
• Expand Energy reported quarterly adjusted EPS of $1.33, beating the $1.13 consensus, although revenue of $2.96 billion fell short of expectations. The company maintained its full-year production target and is expanding its gas-marketing platform through the Twin Eagle acquisition.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $129, despite Barclays’ downgrade to “Reduce.” Expand Energy also declared a quarterly dividend of $0.575 per share, while lower natural-gas prices and infrastructure constraints remain key risks.

Carlson Capital L.P. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,734 shares of the company's stock, valued at approximately $2,606,000. Expand Energy comprises approximately 0.8% of Carlson Capital L.P.'s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds have also recently modified their holdings of the business. Siemens Fonds Invest GmbH raised its holdings in Expand Energy by 6.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock worth $147,000 after purchasing an additional 88 shares during the period. Atlantic Union Bankshares Corp grew its holdings in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares during the period. McGowan Group Asset Management Inc. grew its holdings in Expand Energy by 0.4% during the fourth quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock valued at $2,657,000 after purchasing an additional 105 shares during the period. Smartleaf Asset Management LLC grew its holdings in Expand Energy by 25.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company's stock valued at $61,000 after purchasing an additional 110 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Expand Energy by 4.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company's stock worth $286,000 after buying an additional 111 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays downgraded Expand Energy from an "overweight" rating to a "reduce" rating in a research note on Tuesday, May 26th. Roth Capital reissued a "neutral" rating and issued a $93.00 target price on shares of Expand Energy in a report on Wednesday. Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group lowered their price target on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Wolfe Research reiterated an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $129.00.

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.

Expand Energy Stock Up 1.7%

Shares of EXE opened at $94.03 on Friday. The company has a current ratio of 0.96, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. The business's 50 day moving average is $89.98 and its 200 day moving average is $98.77. The company has a market capitalization of $21.77 billion, a PE ratio of 8.12 and a beta of 0.34.

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 (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $3.05 billion. Research analysts expect that Expand Energy Corporation will post 8.66 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

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

Insider Buying and Selling at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction 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 directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcel Teunissen acquired 2,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 4,000 shares of company stock worth $375,120. Corporate insiders own 0.22% of the company's stock.

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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