Cobalt Capital Management Inc. Makes New $13.24 Million Investment in Expand Energy Corporation $EXE

Cobalt Capital Management Inc. purchased a new position in Expand Energy Corporation (NASDAQ:EXE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 120,000 shares of the company’s stock, valued at approximately $13,243,000. Expand Energy comprises approximately 5.9% of Cobalt Capital Management Inc.’s holdings, making the stock its 5th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in EXE. Atlantic Union Bankshares Corp boosted its stake in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Expand Energy by 350.9% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after buying an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Expand Energy in the 4th quarter worth about $30,000. Abound Wealth Management boosted its stake in Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock worth $33,000 after buying an additional 267 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Expand Energy by 564.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company’s stock worth $35,000 after buying an additional 271 shares during the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Price Performance

EXE stock opened at $87.46 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 52-week low of $86.80 and a 52-week high of $126.62. The stock’s 50 day moving average is $95.28 and its two-hundred day moving average is $103.83. The company has a market capitalization of $20.92 billion, a PE ratio of 6.52 and a beta of 0.33.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Analysts predict that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s payout ratio is currently 17.15%.

Insider Buying and Selling

In related news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer directly owned 9,144 shares of the company’s stock, valued at $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer directly 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 disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 4,000 shares of company stock valued at $375,120 in the last 90 days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EXE shares. Piper Sandler raised their price target on Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings downgraded Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. Morgan Stanley cut their price objective on Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a report on Monday, February 23rd. Finally, Stephens raised their target price on Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

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.