Entropy Technologies LP Acquires Shares of 61,061 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Entropy Technologies LP has acquired 61,061 shares of Expand Energy Corporation, valued at approximately $6.8 million, making it the 24th largest position in its portfolio.
• Majority ownership of Expand Energy (approximately 97.93%) is held by institutional investors and hedge funds, indicating strong institutional interest in the stock.
• Expand Energy reported a quarterly EPS of $1.10, missing estimates, but had a significant revenue of $3.69 billion compared to the expected $2.09 billion.

Entropy Technologies LP purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,061 shares of the company's stock, valued at approximately $6,797,000. Expand Energy accounts for about 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds have also bought and sold shares of EXE. GAMMA Investing LLC purchased a new position in shares of Expand Energy during the first quarter valued at approximately $36,507,000. Parallel Advisors LLC bought a new stake in shares of Expand Energy in the 1st quarter worth $286,000. Doliver Advisors LP purchased a new stake in shares of Expand Energy in the first quarter valued at about $446,000. Peoples Bank KS bought a new position in shares of Expand Energy during the first quarter valued at about $33,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Expand Energy during the first quarter worth about $466,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Trading Down 1.7%

EXE stock traded down $1.68 during midday trading on Thursday, reaching $94.78. The company's stock had a trading volume of 2,175,142 shares, compared to its average volume of 3,750,408. The stock has a fifty day simple moving average of $108.63 and a two-hundred day simple moving average of $107.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 243.06 and a beta of 0.46. Expand Energy Corporation has a 1 year low of $69.12 and a 1 year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. On average, equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 14th. Expand Energy's payout ratio is presently 589.74%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. KeyCorp set a $135.00 target price on shares of Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Tudor Pickering & Holt decreased their price objective on shares of Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Wells Fargo & Company dropped their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Barclays increased their target price on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Expand Energy in a report on Wednesday. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $128.96.

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.