U S Global Investors Inc. Takes $823,000 Position in Expand Energy Corporation $EXE

U S Global Investors Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,500 shares of the company’s stock, valued at approximately $823,000.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp grew its holdings in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. raised its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the period. SJS Investment Consulting Inc. raised its holdings in Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after purchasing an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Expand Energy in the fourth quarter worth $30,000. Finally, Ascentis Independent Advisors bought a new position in shares of Expand Energy during the first quarter worth $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Stock Down 1.9%

EXE stock traded down $1.72 during mid-day trading on Friday, hitting $87.25. 6,305,713 shares of the company were exchanged, compared to its average volume of 3,791,264. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The firm’s 50 day simple moving average is $92.37 and its 200 day simple moving average is $100.71. The firm has a market cap of $20.87 billion, a P/E ratio of 6.51 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. On average, sell-side analysts predict that Expand Energy Corporation will post 8.52 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s dividend payout ratio is presently 17.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXE. KeyCorp reissued a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Weiss Ratings downgraded Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Citigroup reduced their target price on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley decreased their target price on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, Truist Financial lowered their price target on Expand Energy from $134.00 to $117.00 and set a “buy” rating for the company in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and an average target price of $129.78.

Insiders Place Their Bets

In related news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost 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 approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares in the company, valued at approximately $881,755.92. This represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 4,000 shares of company stock valued at $375,120. Company insiders own 0.22% of the company’s stock.

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.