RR Advisors LLC Acquires Shares of 70,068 Expand Energy Corporation $EXE

RR Advisors LLC bought a new position in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 70,068 shares of the company’s stock, valued at approximately $6,390,000. Expand Energy accounts for 1.8% of RR Advisors LLC’s holdings, making the stock its 19th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Expand Energy in the second quarter valued at approximately $1,778,004,000. Capital Research Global Investors lifted its holdings in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares during the period. Bank of New York Mellon Corp purchased a new stake in Expand Energy in the second quarter valued at approximately $267,109,000. Northwestern Mutual Wealth Management Co. boosted 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 valued at $267,172,000 after buying an additional 2,414,311 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Expand Energy by 192.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock valued at $362,683,000 after buying an additional 2,160,979 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Expand Energy Price Performance

Shares of EXE stock opened at $96.09 on Monday. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The stock has a market cap of $22.24 billion, a P/E ratio of 8.30 and a beta of 0.34. The stock has a 50 day moving average of $90.93 and a 200 day moving average of $97.51. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, sell-side analysts expect that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s payout ratio is currently 19.86%.

Insider Transactions 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 shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EXE shares. Benchmark reduced their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Wolfe Research reaffirmed an “outperform” rating and issued a $114.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Roth Capital reiterated a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Barclays reduced their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Finally, Citigroup decreased their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.