SIR Capital Management L.P. Invests $21.34 Million in Expand Energy Corporation $EXE

Key Points

• SIR Capital Management acquired 234,043 shares of Expand Energy worth approximately $21.34 million, making EXE its seventh-largest holding and representing 2.5% of its portfolio. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $127.67, although several firms recently lowered their targets or ratings.
• Expand Energy beat quarterly EPS estimates, reporting $1.33 versus the $1.13 consensus, and declared a quarterly dividend of $0.575, equivalent to a 2.4% annualized yield.

SIR Capital Management L.P. acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 234,043 shares of the company's stock, valued at approximately $21,342,000. Expand Energy comprises approximately 2.5% of SIR Capital Management L.P.'s investment portfolio, making the stock its 7th biggest position. SIR Capital Management L.P. owned about 0.10% of Expand Energy as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Expand Energy in the 2nd quarter valued at approximately $1,778,004,000. Capital Research Global Investors increased its stake in Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock valued at $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Expand Energy in the second quarter valued at approximately $267,109,000. Northwestern Mutual Wealth Management Co. raised its holdings in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Expand Energy by 192.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company's stock worth $362,683,000 after purchasing an additional 2,160,979 shares during the period. Institutional investors and hedge funds own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EXE shares. Weiss Ratings cut shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Wolfe Research restated an "outperform" rating and issued a $114.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Benchmark dropped their price objective on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Johnson Rice lowered Expand Energy from a "buy" rating to an "accumulate" rating and reduced their target price for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Finally, Roth Capital reissued a "neutral" rating and issued a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.67.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the business's 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 transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company's stock.

Expand Energy Trading Up 0.2%

NASDAQ:EXE opened at $96.33 on Tuesday. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. 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 business has a 50 day moving average price of $91.10 and a two-hundred day moving average price of $97.42. The company has a market cap of $22.30 billion, a P/E ratio of 8.32 and a beta of 0.34.

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

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy's payout ratio is presently 19.86%.

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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