Convergence Investment Partners LLC Takes $958,000 Position in Expand Energy Corporation $EXE

Convergence Investment Partners LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,190 shares of the company’s stock, valued at approximately $958,000.

Several other institutional investors have also recently modified their holdings of EXE. GAMMA Investing LLC bought a new position in shares of Expand Energy during the 1st quarter valued at about $328,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Expand Energy during the 1st quarter valued at about $1,179,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Expand Energy during the 1st quarter valued at about $1,383,000. Bessemer Group Inc. purchased a new stake in Expand Energy during the 1st quarter valued at about $75,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Expand Energy during the 1st quarter valued at about $5,050,000. 97.93% of the stock is currently owned by institutional investors.

Insider Activity at Expand Energy

In other news, COO Joshua J. Viets bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the transaction, the chief operating officer owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Domenic J. Dell’osso, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $95.86 per share, with a total value of $239,650.00. Following the transaction, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXE shares. Barclays dropped their target price on Expand Energy from $139.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Capital One Financial dropped their target price on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Wolfe Research dropped their target price on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. KeyCorp dropped their target price on Expand Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Finally, William Blair assumed coverage on Expand Energy in a report on Tuesday, October 14th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.16.

Expand Energy Trading Up 0.1%

NASDAQ EXE opened at $103.88 on Tuesday. Expand Energy Corporation has a fifty-two week low of $82.69 and a fifty-two week high of $123.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day simple moving average of $100.57 and a two-hundred day simple moving average of $105.87. The stock has a market cap of $24.74 billion, a P/E ratio of 266.37 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data 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 return on equity of 5.76% and a net margin of 2.41%.The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.09 billion. On average, analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

About Expand Energy

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.