Short Interest in Expand Energy Corporation (NASDAQ:EXE) Declines By 17.8%

Key Points

• Short interest fell 17.8% to 5,990,844 shares as of Feb. 27, equal to about 2.5% of shares outstanding and a days-to-cover ratio of 1.3.
• CEO Michael Wichterich bought 2,000 shares at $107.50 on March 6, bringing his stake to 83,498 shares (a 2.45% increase); overall insider ownership remains low at 0.17%.
• Strong quarterly results and a dividend announced: Expand Energy reported EPS of $2.00 (vs. $1.89 expected) and $3.27B revenue, and declared a $0.575 quarterly dividend (annualized $2.30, ~2.1% yield).

Expand Energy Corporation (NASDAQ:EXE - Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 5,990,844 shares, a decline of 17.8% from the February 12th total of 7,285,730 shares. Based on an average trading volume of 4,631,999 shares, the days-to-cover ratio is presently 1.3 days. Approximately 2.5% of the shares of the company are short sold. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 4,631,999 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

EXE has been the topic of a number of recent research reports. Weiss Ratings raised Expand Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. Stephens upped their price target on Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Sanford C. Bernstein reduced their price objective on Expand Energy from $145.00 to $144.00 and set an "outperform" rating for the company in a research report on Monday, January 5th. Jefferies Financial Group restated a "buy" rating and set a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Finally, TD Cowen upgraded Expand Energy to a "strong-buy" rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Expand Energy has an average rating of "Buy" and an average price target of $131.26.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich bought 2,000 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the purchase, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company's stock.

Institutional Trading of Expand Energy

A number of large investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp lifted its holdings in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Expand Energy by 350.9% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after purchasing an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Expand Energy during the 4th quarter worth about $30,000. ESL Trust Services LLC acquired a new stake in shares of Expand Energy during the 3rd quarter worth about $32,000. Finally, Abound Wealth Management lifted its holdings in Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock valued at $33,000 after purchasing an additional 267 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Price Performance

NASDAQ EXE traded up $0.69 on Monday, reaching $107.71. The company's stock had a trading volume of 3,954,458 shares, compared to its average volume of 3,768,769. Expand Energy has a 52 week low of $91.01 and a 52 week high of $126.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market cap of $25.89 billion, a PE ratio of 14.29 and a beta of 0.47. The business has a 50-day moving average price of $105.91 and a 200 day moving average price of $107.14.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.11. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. The firm had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $2.28 billion. Sell-side analysts expect that Expand Energy will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $2.30 annualized dividend and a yield of 2.1%. Expand Energy's payout ratio is currently 30.50%.

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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