Kopernik Global Investors LLC Invests $96.24 Million in Expand Energy Corporation $EXE

Key Points

• Kopernik Global Investors LLC has invested approximately $96.24 million in Expand Energy Corporation, acquiring 864,487 shares, making it the fund's fourth largest position.
• Expand Energy announced a quarterly dividend of $0.575 to be paid on September 4th, with a yield of 2.5% and a high dividend payout ratio of 589.74%.
• The stock has received various analyst ratings, with a consensus rating of "Buy" and a price target averaging $127.92.

Kopernik Global Investors LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 864,487 shares of the company's stock, valued at approximately $96,235,000. Expand Energy makes up approximately 10.0% of Kopernik Global Investors LLC's investment portfolio, making the stock its 4th biggest position. Kopernik Global Investors LLC owned approximately 0.36% of Expand Energy at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EXE. Harbour Investments Inc. bought a new position in shares of Expand Energy in the first quarter valued at approximately $27,000. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the first quarter worth $28,000. Cheviot Value Management LLC purchased a new stake in Expand Energy in the first quarter worth $29,000. Pinney & Scofield Inc. bought a new position in shares of Expand Energy in the first quarter worth $29,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of Expand Energy in the first quarter worth $31,000. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXE. Tudor Pickering & Holt cut their price target on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. KeyCorp set a $135.00 price target on Expand Energy and gave the stock an "overweight" rating in a report on Friday, June 13th. Scotiabank reaffirmed an "outperform" rating on shares of Expand Energy in a report on Wednesday, August 13th. Morgan Stanley raised their price target on Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group dropped their price objective on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Two 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 data from MarketBeat.com, Expand Energy presently has a consensus rating of "Buy" and a consensus target price of $127.42.

Expand Energy Price Performance

EXE stock traded down $0.79 during mid-day trading on Friday, hitting $94.66. 3,435,769 shares of the stock were exchanged, compared to its average volume of 3,554,541. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average price of $105.76 and a 200 day moving average price of $106.91. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 242.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued 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 return on equity of 5.76% and a net margin of 2.41%.The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

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

Insider Transactions at Expand Energy

In related news, COO Joshua J. Viets acquired 2,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the acquisition, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the acquisition, the chief executive officer 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 disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

About Expand Energy

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.