Dragoneer Investment Group LLC Makes New Investment in Expand Energy Corporation $EXE

Key Points

• Dragoneer Investment Group opened a new position in Expand Energy, buying 1,319,618 shares valued at about $145.6 million. The stake represents roughly 3.2% of Dragoneer’s portfolio and about 0.55% of Expand Energy.
• Expand Energy recently posted strong quarterly results, reporting EPS of $3.83 versus estimates of $3.61 and revenue of $4.40 billion, well above expectations. Analysts now expect the company to earn 8.7 EPS for the full year.
• The company also paid a quarterly dividend of $0.575 per share, or $2.30 annually, for a 2.6% yield. In addition, both the CFO and CEO recently bought shares, while Wall Street maintains a Moderate Buy consensus with an average target price of $131.45.

Dragoneer Investment Group LLC acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,319,618 shares of the company's stock, valued at approximately $145,633,000. Expand Energy accounts for approximately 3.2% of Dragoneer Investment Group LLC's investment portfolio, making the stock its 13th biggest position. Dragoneer Investment Group LLC owned approximately 0.55% of Expand Energy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its holdings in Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. boosted its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after purchasing an additional 193 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Expand Energy in the fourth quarter worth $30,000. Abound Wealth Management boosted its holdings in Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after purchasing an additional 267 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its holdings in Expand Energy by 564.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company's stock worth $35,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Price Performance

Shares of NASDAQ EXE opened at $88.36 on Wednesday. Expand Energy Corporation has a fifty-two week low of $86.80 and a fifty-two week high of $126.62. The firm's 50-day simple moving average is $95.60 and its 200 day simple moving average 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. The stock has a market cap 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 issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts' consensus estimates of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.53 billion. Equities analysts expect that Expand Energy Corporation will post 8.7 EPS for the current year.

Expand Energy Dividend Announcement

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

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EXE shares. UBS Group raised their target price on Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Morgan Stanley cut their target price on Expand Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research note on Friday, May 22nd. Truist Financial reiterated a "buy" rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. KeyCorp reiterated a "sector weight" rating on shares of Expand Energy in a research note on Thursday, April 2nd. Finally, Weiss Ratings cut Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Expand Energy currently has a consensus rating of "Moderate Buy" and an average target price 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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