Old West Investment Management LLC Makes New Investment in Expand Energy Corporation $EXE

Old West Investment Management LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 174,743 shares of the company’s stock, valued at approximately $15,935,000. Expand Energy makes up approximately 1.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. Old West Investment Management LLC owned 0.08% of Expand Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXE. Atlantic Union Bankshares Corp lifted its holdings in shares of Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Rakuten Securities Inc. increased its stake in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Eastern Bank acquired a new position in Expand Energy in the second quarter worth about $27,000. SJS Investment Consulting Inc. raised its position 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 in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Expand Energy during the fourth quarter worth about $30,000. 97.93% of the stock is owned by institutional investors.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction dated 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 purchase, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EXE. Benchmark lowered their price objective on Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Weiss Ratings lowered Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Citigroup lowered their price target on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Wolfe Research reiterated an “outperform” rating and set a $114.00 price objective 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, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy presently has an average rating of “Moderate Buy” and an average target price of $128.12.

Expand Energy Stock Performance

Shares of Expand Energy stock opened at $94.78 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $21.94 billion, a P/E ratio of 8.18 and a beta of 0.34. The firm has a 50 day simple moving average of $90.24 and a 200 day simple moving average of $98.00. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. The firm 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%. Sell-side analysts predict that Expand Energy Corporation will post 8.92 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The firm 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 is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy’s dividend payout ratio is presently 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.