Goodlander Investment Management LLC Makes New Investment in Expand Energy Corporation $EXE

Key Points

• Goodlander Investment Management LLC has acquired 90,000 shares of Expand Energy Corporation, valued at approximately $10 million, making it the firm's 5th largest position in their investment portfolio.
• CEO Domenic J. Dell'osso, Jr. and COO Joshua J. Viets have recently increased their holdings in Expand Energy, suggesting insider confidence in the company's future performance.
• Expand Energy has a current dividend yield of 2.4%, with a recent quarterly dividend announcement that aligns with its commitment to shareholder returns despite a high dividend payout ratio.

Goodlander Investment Management LLC purchased a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 90,000 shares of the company's stock, valued at approximately $10,019,000. Expand Energy comprises 8.5% of Goodlander Investment Management LLC's investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Long Focus Capital Management LLC acquired a new stake in Expand Energy in the 1st quarter worth $1,147,000. Panagora Asset Management Inc. acquired a new stake in Expand Energy in the 1st quarter worth $3,693,000. Pennant Select LLC acquired a new stake in Expand Energy in the 1st quarter worth $9,351,000. Aperture Investors LLC acquired a new stake in Expand Energy in the 1st quarter worth $1,927,000. Finally, Pennant Investors LP acquired a new stake in Expand Energy in the 1st quarter worth $20,038,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $95.86 per share, with a total value of $239,650.00. Following the acquisition, the chief executive officer directly owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joshua J. Viets bought 2,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EXE shares. UBS Group decreased their target price on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 target price on the stock in a research report on Thursday, May 22nd. Morgan Stanley lifted their target price on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler decreased their target price on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $127.42.

Expand Energy Trading Down 0.5%

Shares of EXE stock opened at $96.78 on Friday. Expand Energy Corporation has a 12-month low of $69.12 and a 12-month high of $123.35. The company has a market capitalization of $23.05 billion, a P/E ratio of 248.16 and a beta of 0.46. The firm has a 50-day moving average price of $103.33 and a 200 day moving average price of $106.61. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

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

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

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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