Woodline Partners LP Makes New $45.57 Million Investment in Expand Energy Corporation $EXE

Key Points

• Woodline Partners LP has invested approximately $45.57 million in Expand Energy Corporation, acquiring 409,346 shares, representing about 0.17% of the company.
• Multiple institutional investors, including Vanguard Group and Price T Rowe Associates, have significantly increased their stakes in Expand Energy, contributing to a total institutional ownership of 97.93%.
• Expand Energy recently announced a quarterly dividend of $0.575, with a 2.4% dividend yield, despite a high payout ratio of 589.74% based on recent earnings.

Woodline Partners LP acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 409,346 shares of the company's stock, valued at approximately $45,568,000. Woodline Partners LP owned about 0.17% of Expand Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EXE. Vanguard Group Inc. bought a new stake in Expand Energy during the first quarter worth about $2,973,033,000. Price T Rowe Associates Inc. MD bought a new position in Expand Energy in the first quarter valued at approximately $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Expand Energy during the 1st quarter worth approximately $701,831,000. Wellington Management Group LLP bought a new stake in shares of Expand Energy during the 1st quarter worth approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Expand Energy during the 1st quarter worth approximately $518,328,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

EXE has been the subject of several analyst reports. UBS Group decreased their target price on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Mizuho increased their price target on shares of Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Jefferies Financial Group set a $135.00 target price on shares of Expand Energy and gave the company a "buy" rating in a report on Saturday, June 14th. Finally, Piper Sandler cut their target price on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $127.12.

Insider Activity at Expand Energy

In other news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were bought at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the acquisition, the chief operating officer owned 61,676 shares in the company, valued at $5,684,060.16. The trade was a 3.35% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Expand Energy Price Performance

NASDAQ:EXE opened at $94.52 on Tuesday. The company has a market cap of $22.51 billion, a P/E ratio of 242.37 and a beta of 0.46. The firm's fifty day moving average price is $100.55 and its two-hundred day moving average price is $106.25. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its 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 company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Equities analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is presently 589.74%.

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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