SIR Capital Management L.P. Makes New $21.34 Million Investment in Expand Energy Corporation $EXE

SIR Capital Management L.P. bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, Holdings Channel.com reports. The fund bought 234,043 shares of the company’s stock, valued at approximately $21,342,000. Expand Energy comprises about 2.5% of SIR Capital Management L.P.’s portfolio, making the stock its 7th biggest holding.

Several other large investors have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH increased its stake in shares of Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock worth $147,000 after purchasing an additional 88 shares during the period. Atlantic Union Bankshares Corp increased its stake in 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. Smartleaf Asset Management LLC increased its stake in Expand Energy by 25.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock worth $61,000 after acquiring an additional 110 shares during the period. EverSource Wealth Advisors LLC increased its stake in Expand Energy by 4.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock worth $286,000 after acquiring an additional 111 shares during the period. Finally, Root Financial Partners LLC raised its holdings in Expand Energy by 25.8% in the 4th quarter. Root Financial Partners LLC now owns 561 shares of the company’s stock valued at $62,000 after acquiring an additional 115 shares in the last quarter. 97.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXE. UBS Group cut their target price on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Roth Capital restated a “neutral” rating and issued a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Truist Financial increased their price objective on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Benchmark decreased their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.67.

Expand Energy Trading Up 0.2%

Shares of EXE stock opened at $96.33 on Tuesday. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The stock’s fifty day simple moving average is $91.10 and its 200 day simple moving average is $97.42. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.30 billion, a P/E ratio of 8.32 and a beta of 0.34.

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

Expand Energy Announces Dividend

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

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction 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 represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

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.