Palo Duro Investment Partners LP purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 439,476 shares of the company’s stock, valued at approximately $40,076,000. Expand Energy makes up 7.7% of Palo Duro Investment Partners LP’s portfolio, making the stock its 6th biggest position.
A number of other institutional investors and hedge funds have also recently modified their holdings of EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Expand Energy during the first quarter valued at $2,599,000. Ashton Thomas Private Wealth LLC purchased a new position in Expand Energy in the first quarter worth about $208,000. Focus Partners Wealth bought a new stake in shares of Expand Energy during the 1st quarter valued at about $205,000. Geneos Wealth Management Inc. bought a new stake in shares of Expand Energy during the 1st quarter valued at about $79,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Expand Energy during the 2nd quarter valued at about $757,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
EXE has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday. Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and reduced their price target for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Wolfe Research reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Barclays decreased their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Finally, Morgan Stanley dropped their price target on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.89.
Insider Transactions at Expand Energy
In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated 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 directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.
Expand Energy Price Performance
Shares of Expand Energy stock opened at $96.57 on Thursday. The company has a market capitalization of $22.36 billion, a price-to-earnings ratio of 8.34 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $91.40 and its 200-day simple moving average is $97.23. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62.
Expand Energy (NASDAQ:EXE – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.
Expand Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is 19.86%.
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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