Nicholas Investment Partners LP Takes $3.74 Million Position in Expand Energy Corporation $EXE

Nicholas Investment Partners LP acquired a new position in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 41,000 shares of the company’s stock, valued at approximately $3,739,000.

A number of other institutional investors also recently bought and sold shares of EXE. BlackRock Inc. purchased a new position in Expand Energy during the second quarter valued at $1,778,004,000. Capital Research Global Investors increased its position in Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after buying an additional 5,291,948 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Expand Energy in the second quarter worth about $267,109,000. Northwestern Mutual Wealth Management Co. increased its position in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after buying an additional 2,414,311 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Expand Energy by 192.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after buying an additional 2,160,979 shares during the period. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EXE shares. UBS Group lowered their price objective on Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Benchmark decreased their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Wolfe Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Finally, Truist Financial lifted 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 investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.67.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

Expand Energy Price Performance

Shares of Expand Energy stock opened at $96.33 on Tuesday. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 8.32 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $91.10 and its 200-day simple moving average is $97.42. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62.

Expand Energy (NASDAQ:EXE) last released its earnings results 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. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

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

Expand Energy 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.