Dragoneer Investment Group LLC Makes New $145.63 Million Investment in Expand Energy Corporation $EXE

Dragoneer Investment Group LLC purchased a new position in Expand Energy Corporation (NASDAQ:EXE) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,319,618 shares of the company’s stock, valued at approximately $145,633,000. Expand Energy comprises approximately 3.2% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in Expand Energy by 513.9% in the 3rd quarter. Intech Investment Management LLC now owns 36,781 shares of the company’s stock worth $3,908,000 after purchasing an additional 30,790 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Expand Energy by 36,574.9% in the 4th 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 in the last quarter. Sierra Summit Advisors LLC increased its stake in Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after purchasing an additional 15,904 shares in the last quarter. CSM Advisors LLC purchased a new position in Expand Energy in the 3rd quarter worth about $20,103,000. Finally, Swiss National Bank increased its stake in Expand Energy by 2.8% in the 3rd quarter. Swiss National Bank now owns 651,656 shares of the company’s stock worth $69,232,000 after purchasing an additional 17,700 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EXE shares. Truist Financial reissued a “buy” rating and issued a $134.00 price target (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating and issued a $141.00 price target on shares of Expand Energy in a research note on Thursday, February 19th. Stephens lifted their price target on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Morgan Stanley dropped their price target on Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Finally, Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.45.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich purchased 1,000 shares of the 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 purchase, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the purchase, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. This represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is currently owned by company insiders.

Expand Energy Trading Up 0.5%

NASDAQ:EXE opened at $88.36 on Wednesday. The stock has a market cap of $21.14 billion, a PE ratio of 6.59 and a beta of 0.33. The stock’s 50-day moving average is $95.60 and its two-hundred day moving average is $104.05. Expand Energy Corporation has a fifty-two week low of $86.80 and a fifty-two week high of $126.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. As a group, equities research analysts forecast that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.6%. Expand Energy’s payout ratio is presently 17.15%.

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.