Persistent Asset Partners Ltd Takes $1.51 Million Position in Expand Energy Corporation $EXE

Persistent Asset Partners Ltd acquired a new stake in Expand Energy Corporation (NASDAQ:EXEFree Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 17,175 shares of the company’s stock, valued at approximately $1,507,000.

A number of other large investors have also made changes to their positions in the company. Capital Research Global Investors lifted its holdings in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares in the last quarter. State Street Corp grew its stake in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after acquiring an additional 1,014,484 shares during the period. Oaktree Capital Management LP increased its holdings in shares of Expand Energy by 3.5% in the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after acquiring an additional 175,114 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after acquiring an additional 2,188,422 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Expand Energy by 16.5% during the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock worth $463,140,000 after purchasing an additional 619,001 shares during the period. Institutional investors own 97.93% of the company’s stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $94.78 on Monday. 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 company has a market cap of $21.94 billion, a PE ratio of 8.18 and a beta of 0.34. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The stock has a 50-day simple moving average of $90.24 and a 200 day simple moving average of $98.00.

Expand Energy (NASDAQ:EXEGet Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. On average, sell-side analysts expect that Expand Energy Corporation will post 8.92 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is 19.86%.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Roth Capital reissued a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Citigroup dropped their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Truist Financial upped their price target on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.12.

Get Our Latest Stock Analysis on EXE

About Expand Energy

(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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