12,879 Shares in Expand Energy Corporation $EXE Bought by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP invested approximately $1.43 million in Expand Energy Corporation by acquiring 12,879 shares, marking a significant institutional entry into the stock.
• Several other major hedge funds, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also acquired significant stakes in Expand Energy, bringing institutional ownership to 97.93% of the company's stock.
• Despite missing earnings expectations with an EPS of $1.10, Expand Energy reported revenue of $3.69 billion, significantly surpassing analysts' estimates, suggesting strong overall performance.

Cinctive Capital Management LP purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,879 shares of the company's stock, valued at approximately $1,434,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbour Investments Inc. acquired a new stake in Expand Energy in the 1st quarter valued at about $27,000. Transamerica Financial Advisors LLC acquired a new position in shares of Expand Energy during the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. acquired a new stake in Expand Energy during the 1st quarter valued at $28,000. Quarry LP purchased a new position in Expand Energy during the first quarter worth $28,000. Finally, Cheviot Value Management LLC acquired a new position in shares of Expand Energy in the first quarter worth $29,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Joshua J. Viets acquired 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the acquisition, the chief operating officer directly owned 61,676 shares in the company, valued at $5,684,060.16. This trade represents a 3.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were 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 in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Expand Energy Trading Up 0.2%

Shares of EXE stock traded up $0.21 during trading hours on Tuesday, hitting $94.73. 1,849,878 shares of the company were exchanged, compared to its average volume of 3,679,183. The firm has a fifty day moving average of $100.55 and a 200 day moving average of $106.25. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a 1 year low of $69.12 and a 1 year high of $123.35. The firm has a market cap of $22.56 billion, a PE ratio of 242.90 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is 589.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXE. Tudor Pickering & Holt decreased their price objective on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Piper Sandler decreased their price target on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. The Goldman Sachs Group lowered their price target on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Siebert Williams Shank cut their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Finally, Roth Capital lowered shares of Expand Energy from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $125.00 to $98.00 in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Expand Energy currently has an average 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.