Old West Investment Management LLC Takes Position in Expand Energy Corporation $EXE

Old West Investment Management LLC acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXEFree Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 174,743 shares of the company’s stock, valued at approximately $15,935,000. Expand Energy accounts for about 1.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXE. Sierra Summit Advisors LLC increased its stake in shares of Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock valued at $8,523,000 after acquiring an additional 15,904 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Expand Energy by 16.6% during the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock worth $26,443,000 after acquiring an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Expand Energy during the fourth quarter valued at approximately $57,153,000. Finally, Sei Investments Co. grew its holdings in Expand Energy by 86.9% during the first quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock valued at $27,663,000 after purchasing an additional 117,163 shares during the period. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

EXE has been the topic of several analyst reports. Truist Financial increased their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Benchmark decreased their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. UBS Group lowered their price objective on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Finally, Roth Capital reiterated a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy presently has an average rating of “Moderate Buy” and a consensus price target of $128.12.

Read Our Latest Analysis on Expand Energy

Expand Energy Price Performance

NASDAQ EXE opened at $94.78 on Monday. The business has a 50 day simple moving average of $90.24 and a 200 day simple moving average of $98.00. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 8.18 and a beta of 0.34.

Expand Energy (NASDAQ:EXEGet Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Analysts anticipate that Expand Energy Corporation will post 8.92 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. Stockholders of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy’s dividend payout ratio is currently 19.86%.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

Expand Energy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Expand Energy (NASDAQ:EXE)

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