Delta Global Management LP Lowers Holdings in Expand Energy Corporation $EXE

Key Points

• Delta Global Management LP sharply cut its position in Expand Energy, reducing holdings by 82.6% in the fourth quarter and ending with 4,421 shares worth about $488,000.
• Company insiders bought shares recently, including CFO Marcel Teunissen and CEO Michael Wichterich, signaling management confidence even as the stock traded near its 52-week low.
• Expand Energy reported strong quarterly results, beating EPS and revenue estimates, and it continues to pay a quarterly dividend that annualizes to $2.30 per share for a 2.6% yield.

Delta Global Management LP reduced its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 82.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,421 shares of the company's stock after selling 20,960 shares during the quarter. Delta Global Management LP's holdings in Expand Energy were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Expand Energy during the 1st quarter valued at $2,599,000. Ashton Thomas Private Wealth LLC bought a new position in Expand Energy during the 1st quarter valued at about $208,000. Focus Partners Wealth bought a new position in Expand Energy during the 1st quarter valued at about $205,000. Geneos Wealth Management Inc. bought a new position in Expand Energy during the 1st quarter valued at about $79,000. Finally, Gamco Investors INC. ET AL bought a new position in Expand Energy during the 2nd quarter valued at about $757,000. 97.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the purchase, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 4,000 shares of company stock valued at $375,120. Corporate insiders own 0.22% of the company's stock.

Expand Energy Stock Up 0.5%

NASDAQ EXE opened at $88.36 on Wednesday. The stock's 50-day moving average price is $95.60 and its 200-day moving average price is $104.05. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 52 week low of $86.80 and a 52 week high of $126.62. The company has a market capitalization of $21.14 billion, a P/E ratio of 6.59 and a beta of 0.33.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, equities research analysts predict that Expand Energy Corporation will post 8.7 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy's dividend payout ratio is 17.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Expand Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Truist Financial reiterated a "buy" rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research note on Monday, February 23rd. Stephens boosted their target price on shares of Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Finally, William Blair downgraded Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.45.

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.

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