Tejara Capital Ltd Purchases Shares of 81,700 Expand Energy Corporation $EXE

Key Points

• Tejara Capital purchased 81,700 shares of Expand Energy in the second quarter, valued at approximately $7.45 million, making EXE its 11th-largest holding and 3.1% of its portfolio.
• Institutional investors and hedge funds own 97.93% of EXE. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $127.67.
• Expand Energy exceeded quarterly earnings expectations with $1.33 in EPS versus the $1.13 estimate, while reporting $2.96 billion in revenue. The company also declared a quarterly dividend of $0.575, representing a 2.4% annualized yield.

Tejara Capital Ltd bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 81,700 shares of the company's stock, valued at approximately $7,450,000. Expand Energy comprises 3.1% of Tejara Capital Ltd's portfolio, making the stock its 11th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXE. Vise Technologies Inc. purchased a new stake in Expand Energy in the second quarter valued at approximately $339,000. Nierenberg Investment Management Company LLC acquired a new position in Expand Energy in the 2nd quarter worth approximately $1,418,460,000. Tocqueville Asset Management L.P. purchased a new position in Expand Energy during the 2nd quarter worth approximately $39,822,000. West Family Investments Inc. purchased a new position in Expand Energy during the 2nd quarter worth approximately $574,000. Finally, NewEdge Wealth LLC acquired a new stake in Expand Energy during the 2nd quarter valued at approximately $285,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EXE shares. Barclays cut their price target on Expand Energy from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Monday. Wolfe Research restated an "outperform" rating and issued a $114.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Benchmark dropped their target price on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. William Blair cut Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Finally, Morgan Stanley decreased their price target on Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Wednesday. 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 company. According to MarketBeat, Expand Energy presently has a consensus rating of "Moderate Buy" and an average target price of $127.67.

Expand Energy Price Performance

Expand Energy stock opened at $96.07 on Friday. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. The company has a fifty day simple moving average of $90.78 and a 200-day simple moving average of $97.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts anticipate that Expand Energy Corporation will post 8.92 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.22% of the company's stock.

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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