Empowered Funds LLC Invests $31.09 Million in Expand Energy Corporation $EXE

Empowered Funds LLC purchased a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 340,931 shares of the company’s stock, valued at approximately $31,089,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH raised its position in Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after acquiring an additional 88 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Expand Energy by 25.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock worth $61,000 after acquiring an additional 110 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Expand Energy by 4.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock worth $286,000 after purchasing an additional 111 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Expand Energy by 25.8% during the 4th quarter. Root Financial Partners LLC now owns 561 shares of the company’s stock worth $62,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Insider Transactions at Expand Energy

In other news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought 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 of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by company insiders.

Expand Energy Trading Up 1.5%

NASDAQ:EXE opened at $98.00 on Friday. The company’s 50 day moving average is $91.62 and its 200-day moving average is $97.14. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. 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 $22.69 billion, a price-to-earnings ratio of 8.46 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (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 business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Equities analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 2.3%. Expand Energy’s payout ratio is currently 19.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EXE shares. Citigroup reduced their price objective on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Benchmark cut their target price on Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Truist Financial boosted their price target on Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Roth Capital reiterated a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Expand Energy presently has an average rating of “Moderate Buy” and an average target price of $126.89.

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.