Freestone Grove Partners LP Invests $24.56 Million in Expand Energy Corporation $EXE

Key Points

• Freestone Grove Partners acquired 269,312 shares of Expand Energy valued at approximately $24.56 million, giving it a 0.12% stake. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a generally positive outlook, with Expand Energy receiving a “Moderate Buy” consensus rating and an average price target of $126.89, despite some recent target reductions.
• Expand Energy reported quarterly EPS of $1.33, exceeding estimates of $1.13, and announced a quarterly dividend of $0.575 per share, representing a 2.3% annualized yield.

Freestone Grove Partners LP purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 269,312 shares of the company's stock, valued at approximately $24,559,000. Freestone Grove Partners LP owned approximately 0.12% of Expand Energy at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its position in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank acquired a new stake in shares of Expand Energy in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its stake in shares of Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy in the 4th quarter valued at $30,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Expand Energy during the 1st quarter worth $32,000. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EXE has been the subject of several recent analyst reports. Johnson Rice downgraded Expand Energy from a "buy" rating to an "accumulate" rating and dropped their price objective for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Morgan Stanley lowered their target price on Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a research note on Wednesday, August 19th. Roth Capital reissued a "neutral" rating and issued a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Wolfe Research restated an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Expand Energy from $99.00 to $113.00 and gave the company a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $126.89.

Expand Energy Trading Up 1.5%

Shares of EXE stock opened at $98.00 on Friday. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The stock's fifty day simple moving average is $91.62 and its 200 day simple moving average is $97.14. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.69 billion, a P/E ratio of 8.46 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, sell-side analysts predict that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is currently 19.86%.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

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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