Delta Global Management LP Raises Stock Position in Expand Energy Corporation $EXE

Delta Global Management LP grew its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 415.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,792 shares of the company’s stock after acquiring an additional 18,371 shares during the period. Delta Global Management LP’s holdings in Expand Energy were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Capital Research Global Investors grew its holdings in shares of Expand Energy by 33.2% in the 4th 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 during the period. Northwestern Mutual Wealth Management Co. raised 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 worth $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Expand Energy by 94.7% during 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 purchasing an additional 2,188,422 shares during the last quarter. Victory Capital Management Inc. boosted its position in Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares in the last quarter. Finally, Dragoneer Investment Group LLC acquired a new stake in Expand Energy in the fourth quarter valued at $145,633,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insiders Place Their Bets

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was acquired at an average price of $96.43 per share, with a total value of $192,860.00. Following the completion of the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 4,000 shares of company stock valued at $375,120. Company insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $91.52 on Friday. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 6.82 and a beta of 0.34. The company’s 50-day moving average is $90.70 and its two-hundred day moving average is $99.23. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.61 by $0.22. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. Research analysts expect that Expand Energy Corporation will post 8.4 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. Expand Energy’s dividend payout ratio (DPR) is 17.15%.

Analyst Ratings Changes

Several research firms recently commented on EXE. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. William Blair cut shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Citigroup reduced their price target 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. Truist Financial dropped their price objective on shares of Expand Energy from $134.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, Barclays downgraded Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.19.

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.