Oak Thistle LLC Buys New Shares in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Oak Thistle LLC has acquired a new position in Expand Energy Corporation, purchasing 3,041 shares valued at approximately $339,000.
• A significant majority, 97.93%, of Expand Energy's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Expand Energy's stock has seen various price target upgrades, with analysts setting a consensus target price of $129.80 and a general rating of "Buy."

Oak Thistle LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,041 shares of the company's stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in Expand Energy during the 1st quarter worth approximately $518,328,000. Bank of New York Mellon Corp purchased a new position in shares of Expand Energy during the first quarter worth $326,670,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Expand Energy during the first quarter worth $127,038,000. Stephens Investment Management Group LLC purchased a new position in shares of Expand Energy during the first quarter worth $108,048,000. Finally, Canoe Financial LP purchased a new position in shares of Expand Energy during the 1st quarter valued at about $79,015,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on EXE. Scotiabank lifted their price objective on Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Sanford C. Bernstein upgraded Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a research report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. TD Cowen raised shares of Expand Energy from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $116.00 in a report on Tuesday, April 8th. Finally, Stephens cut their target price on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $129.80.

Expand Energy Price Performance

Shares of Expand Energy stock traded up $1.42 during trading hours on Tuesday, reaching $99.55. 669,123 shares of the company's stock were exchanged, compared to its average volume of 3,755,887. Expand Energy Corporation has a 1 year low of $69.12 and a 1 year high of $123.35. The company has a market capitalization of $23.69 billion, a P/E ratio of -18.59 and a beta of 0.48. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $112.43 and a two-hundred day moving average of $107.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.17. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. As a group, research analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

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.