Core Capital Management & Research inc. Makes New Investment in Expand Energy Corporation $EXE

Core Capital Management & Research inc. acquired a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 56,236 shares of the company’s stock, valued at approximately $5,406,000. Expand Energy comprises approximately 2.8% of Core Capital Management & Research inc.’s investment portfolio, making the stock its 11th largest position.

Other hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp lifted its position in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank acquired a new stake in Expand Energy during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its stake in Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after buying an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Expand Energy in the 4th quarter worth $30,000. Finally, Ascentis Independent Advisors purchased a new position in Expand Energy in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Performance

Shares of EXE stock opened at $96.62 on Thursday. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 8.34 and a beta of 0.34. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The company’s 50-day simple moving average is $93.37 and its 200-day simple moving average is $96.85. 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 announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share 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 analyst estimates of $3.05 billion. Equities analysts anticipate that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, August 13th. Expand Energy’s payout ratio is 19.86%.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXE. Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and dropped their target price for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Stifel Nicolaus set a $135.00 price target on Expand Energy in a report on Wednesday. UBS Group lowered their price objective on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Finally, Citigroup cut their target price 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. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.16.

Expand Energy Profile

Expand Energy Corporation (NASDAQ: EXE) is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company’s operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.