Delta Global Management LP Makes New $2.70 Million Investment in Expand Energy Corporation $EXE

Key Points

• Delta Global Management LP purchased a new stake of 25,381 shares in Expand Energy (NASDAQ:EXE) during Q3 valued at approximately $2.70 million, and institutional/hedge funds collectively own 97.93% of the stock.
• CEO Michael Wichterich bought 2,000 shares on March 6 at an average price of $107.50, increasing his holdings to 83,498 shares while insiders overall own 0.17% of the company.
• Analysts have a consensus "Buy" rating with an average target of $131.17, and Expand Energy recently beat estimates—reporting $2.00 EPS (vs. $1.89 expected) and $3.27 billion in revenue.

Delta Global Management LP purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,381 shares of the company's stock, valued at approximately $2,696,000.

Several other large investors have also modified their holdings of EXE. ESL Trust Services LLC purchased a new stake in Expand Energy in the 3rd quarter valued at approximately $32,000. Smartleaf Asset Management LLC increased its position in Expand Energy by 85.0% during the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company's stock worth $46,000 after buying an additional 199 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Expand Energy in the third quarter worth $47,000. CX Institutional acquired a new position in shares of Expand Energy in the third quarter worth $52,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Expand Energy in the second quarter valued at $70,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich bought 2,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the acquisition, the chief executive officer owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EXE shares. Piper Sandler increased their price objective on Expand Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group reduced their target price on shares of Expand Energy from $150.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Barclays decreased their price target on shares of Expand Energy from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, February 23rd. Benchmark lifted their price target on shares of Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Finally, Mizuho boosted their price objective on shares of Expand Energy from $136.00 to $142.00 and gave the company an "outperform" rating in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $131.17.

Expand Energy Stock Performance

Expand Energy stock opened at $107.02 on Monday. The stock has a fifty day moving average price of $105.91 and a 200 day moving average price of $107.14. Expand Energy Corporation has a 52 week low of $91.01 and a 52 week high of $126.62. The firm has a market capitalization of $25.73 billion, a P/E ratio of 14.19 and a beta of 0.47. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.11. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.28 billion. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%. Equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be given a $0.575 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy's dividend payout ratio (DPR) is currently 30.50%.

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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