LSP Investment Advisors LLC Increases Position in Expand Energy Corporation $EXE

LSP Investment Advisors LLC raised its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 40.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 319,417 shares of the company’s stock after purchasing an additional 92,600 shares during the quarter. Expand Energy comprises 20.4% of LSP Investment Advisors LLC’s portfolio, making the stock its 3rd largest holding. LSP Investment Advisors LLC owned about 0.13% of Expand Energy worth $33,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EXE. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Expand Energy by 13.2% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,219 shares of the company’s stock worth $236,000 after buying an additional 258 shares in the last quarter. Holocene Advisors LP bought a new position in Expand Energy during the third quarter valued at about $92,138,000. Gotham Asset Management LLC grew its holdings in Expand Energy by 106.8% during the third quarter. Gotham Asset Management LLC now owns 404,517 shares of the company’s stock worth $42,976,000 after acquiring an additional 208,886 shares during the period. Focus Partners Wealth grew its holdings in Expand Energy by 4,109.0% during the third quarter. Focus Partners Wealth now owns 114,612 shares of the company’s stock worth $12,129,000 after acquiring an additional 111,889 shares during the period. Finally, Delta Global Management LP bought a new stake in Expand Energy in the third quarter worth about $2,696,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Trading Up 0.6%

NASDAQ:EXE opened at $107.71 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. Expand Energy Corporation has a 1-year low of $91.01 and a 1-year high of $126.62. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 14.29 and a beta of 0.47. The stock has a fifty day simple moving average of $105.92 and a 200 day simple moving average of $107.21.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.28 billion. Sell-side analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.575 per share. The ex-dividend date is Thursday, March 5th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. Expand Energy’s payout ratio is currently 30.50%.

Insider Activity

In other news, CEO Michael Wichterich purchased 2,000 shares of Expand Energy stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the transaction, the chief executive officer owned 83,498 shares in the company, valued at $8,976,035. The trade was a 2.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EXE has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Mizuho lifted their price objective on shares of Expand Energy from $136.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Benchmark boosted their target price on shares of Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research note on Monday, February 23rd. Finally, UBS Group reduced their target price on shares of Expand Energy from $150.00 to $135.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $131.27.

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.