Tidal Investments LLC Cuts Position in Expand Energy Corporation $EXE

Key Points

• Tidal Investments cut its Expand Energy position by 40% in the second quarter, selling 96,000 shares and retaining 144,285 shares valued at approximately $13.2 million. Institutional investors collectively own 97.93% of EXE.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $127.16, despite several recent target reductions.
• Expand Energy reported quarterly EPS of $1.33, beating estimates of $1.13, while revenue of $2.96 billion fell short of expectations. The company also pays a quarterly dividend of $0.575 per share, representing a 2.4% annualized yield.

Tidal Investments LLC decreased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 40.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,285 shares of the company's stock after selling 96,000 shares during the period. Tidal Investments LLC owned 0.06% of Expand Energy worth $13,157,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EXE. California State Teachers Retirement System grew its stake in shares of Expand Energy by 9,116.8% in the 2nd quarter. California State Teachers Retirement System now owns 25,499,733 shares of the company's stock worth $2,325,321,000 after buying an additional 25,223,067 shares during the last quarter. Capital Research Global Investors raised its stake in Expand Energy by 33.2% during 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 buying an additional 5,291,948 shares during the last quarter. BlackRock Inc. bought a new stake in Expand Energy in the second quarter worth $1,778,004,000. State Street Corp boosted its holdings in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares in the last quarter. Finally, Oaktree Capital Management LP grew its stake in shares of Expand Energy by 3.5% in the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company's stock worth $574,970,000 after acquiring an additional 175,114 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXE has been the subject of several analyst reports. Roth Capital restated a "neutral" rating and set a $93.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Johnson Rice cut shares of Expand Energy from a "buy" rating to an "accumulate" rating and dropped their price target for the stock from $135.00 to $125.00 in a research note on Monday, August 17th. Barclays cut their price objective on shares of Expand Energy from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Freedom Broker upgraded shares of Expand Energy to a "strong-buy" rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley decreased their target price on shares of Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.16.

Expand Energy Stock Down 2.1%

Expand Energy stock opened at $94.83 on Friday. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 8.19 and a beta of 0.34. The stock has a fifty day simple moving average of $93.58 and a two-hundred day simple moving average of $96.76. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results 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. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities analysts predict that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were paid a dividend of $0.575 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's dividend payout ratio is currently 19.86%.

Expand Energy Company Profile

Expand Energy Corporation NASDAQ: EXE is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company's operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.

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