Expand Energy Corporation $EXE Shares Bought by Delta Global Management LP

Delta Global Management LP grew its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 415.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,792 shares of the company's stock after buying an additional 18,371 shares during the period. Delta Global Management LP's holdings in Expand Energy were worth $2,502,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EXE. Capital Research Global Investors grew its holdings in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock worth $2,345,303,000 after buying an additional 5,291,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company's stock valued at $493,890,000 after acquiring an additional 2,188,422 shares during the last quarter. Victory Capital Management Inc. lifted its position in Expand Energy by 192.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company's stock worth $362,683,000 after acquiring an additional 2,160,979 shares during the period. Finally, Dragoneer Investment Group LLC acquired a new stake in Expand Energy during the 4th quarter worth approximately $145,633,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Price Performance

Shares of EXE opened at $91.52 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average is $90.70 and its two-hundred day moving average is $99.23. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The firm has a market capitalization of $21.89 billion, a PE ratio of 6.82 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. Research analysts anticipate that Expand Energy Corporation will post 8.4 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy's dividend payout ratio is currently 17.15%.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was purchased 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. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marcel Teunissen bought 2,000 shares of Expand Energy stock in a transaction on Thursday, May 7th. The stock was acquired at an average cost of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at $881,755.92. This trade represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 4,000 shares of company stock valued at $375,120 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXE. KeyCorp reiterated a "sector weight" rating on shares of Expand Energy in a research note on Thursday, April 2nd. Weiss Ratings cut Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 19th. UBS Group decreased their price target on Expand Energy from $135.00 to $127.00 and set a "buy" rating for the company in a report on Friday, July 10th. Morgan Stanley lowered their price objective on shares of Expand Energy from $139.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Finally, William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Expand Energy presently has a consensus rating of "Moderate Buy" and an average target price of $130.19.

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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