Palo Duro Investment Partners LP Purchases New Shares in Expand Energy Corporation $EXE

Palo Duro Investment Partners LP purchased a new position in Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 439,476 shares of the company’s stock, valued at approximately $40,076,000. Expand Energy accounts for about 7.7% of Palo Duro Investment Partners LP’s investment portfolio, making the stock its 6th largest position. Palo Duro Investment Partners LP owned 0.19% of Expand Energy at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH boosted its holdings in shares of Expand Energy by 6.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after buying an additional 88 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of 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 acquiring an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Expand Energy by 25.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock valued at $61,000 after acquiring an additional 110 shares during the period. EverSource Wealth Advisors LLC lifted its position in Expand Energy by 4.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock valued at $286,000 after acquiring an additional 111 shares during the period. Finally, Root Financial Partners LLC boosted its stake in Expand Energy by 25.8% during the fourth quarter. Root Financial Partners LLC now owns 561 shares of the company’s stock worth $62,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Expand Energy Trading Up 2.0%

Shares of NASDAQ EXE opened at $96.57 on Thursday. The firm’s 50 day moving average price is $91.40 and its 200-day moving average price is $97.23. The company has a market cap of $22.36 billion, a PE ratio of 8.34 and a beta of 0.34. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.05 billion. On average, equities research analysts expect that Expand Energy Corporation will post 8.84 EPS 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 issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

Analyst Ratings Changes

A number of brokerages have weighed in on EXE. Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their price objective for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Citigroup dropped 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. Benchmark cut their price target 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. Finally, Truist Financial raised their price objective on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Expand Energy has a consensus rating of “Moderate Buy” and an average price target of $126.89.

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.