Mercuria Capital Strategies LLC Has $20.69 Million Stock Holdings in Expand Energy Corporation $EXE

Key Points

• Mercuria Capital Strategies LLC has reduced its holdings in Expand Energy Corporation (NASDAQ:EXE) by 44.2%, resulting in ownership of approximately $20.69 million and making it the firm's 5th largest holding.
• CEO Domenic J. Dell'osso, Jr. and COO Joshua J. Viets have both increased their personal stakes in Expand Energy by purchasing shares recently, with Dell'osso acquiring 2,500 shares and Viets acquiring 2,000 shares.
• Recent analyst reports have resulted in lowered price targets for Expand Energy, with Piper Sandler and Barclays reducing their estimates to $136.00, while overall ratings remain positive with the stock holding an average rating of "Moderate Buy".

Mercuria Capital Strategies LLC reduced its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 44.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,949 shares of the company's stock after selling 140,000 shares during the quarter. Expand Energy makes up about 5.5% of Mercuria Capital Strategies LLC's investment portfolio, making the stock its 5th largest holding. Mercuria Capital Strategies LLC owned approximately 0.07% of Expand Energy worth $20,692,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EXE. Harbour Investments Inc. bought a new position in shares of Expand Energy in the first quarter worth approximately $27,000. Transamerica Financial Advisors LLC bought a new position in shares of Expand Energy in the first quarter worth approximately $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy in the first quarter worth approximately $28,000. Quarry LP bought a new position in shares of Expand Energy in the first quarter worth approximately $28,000. Finally, Cheviot Value Management LLC bought a new position in shares of Expand Energy in the first quarter worth approximately $29,000. 97.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

EXE has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Barclays lowered their target price on shares of Expand Energy from $139.00 to $136.00 and set an "overweight" rating on the stock in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of Expand Energy from $141.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, October 3rd. The Goldman Sachs Group lowered their target price on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Finally, Tudor Pickering & Holt lowered their target price on shares of Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Expand Energy presently has an average rating of "Moderate Buy" and an average price target of $127.42.

Expand Energy Price Performance

Expand Energy stock opened at $108.68 on Thursday. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 278.67 and a beta of 0.47. The firm's fifty day moving average is $99.36 and its 200 day moving average is $106.22. 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 Corporation has a 52-week low of $82.69 and a 52-week high of $123.35.

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

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.1%. Expand Energy's dividend payout ratio is presently 589.74%.

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.

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