Delta Investment Management LLC Acquires New Position in Expand Energy Corporation $EXE

Delta Investment Management LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,966 shares of the company’s stock, valued at approximately $1,984,000.

Other hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. bought a new position in shares of Expand Energy during the 1st quarter valued at approximately $27,000. Transamerica Financial Advisors LLC bought a new position in Expand Energy in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. bought a new position in Expand Energy in the 1st quarter worth approximately $28,000. Quarry LP bought a new position in Expand Energy in the 1st quarter worth approximately $28,000. Finally, Cheviot Value Management LLC bought a new position in Expand Energy in the 1st quarter worth approximately $29,000. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Stock Performance

NASDAQ:EXE opened at $103.77 on Monday. The stock’s fifty day moving average is $100.35 and its 200 day moving average is $105.87. Expand Energy Corporation has a fifty-two week low of $82.69 and a fifty-two week high of $123.35. The firm has a market capitalization of $24.71 billion, a PE ratio of 266.08 and a beta of 0.47. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.09 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Domenic J. Dell’osso, Jr. bought 2,500 shares of Expand Energy stock in a transaction on Friday, August 15th. The shares were acquired 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 directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joshua J. Viets bought 2,000 shares of Expand Energy stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the purchase, the chief operating officer owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXE shares. KeyCorp dropped their price target on Expand Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Morgan Stanley dropped their price target on Expand Energy from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Scotiabank reiterated an “outperform” rating on shares of Expand Energy in a research report on Thursday, October 9th. William Blair began coverage on Expand Energy in a research report on Tuesday, October 14th. They set an “outperform” rating for the company. Finally, Roth Capital downgraded Expand Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $98.00 in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and an average target price of $127.62.

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.