Persistent Asset Partners Ltd Takes Position in Expand Energy Corporation $EXE

Persistent Asset Partners Ltd bought a new stake in Expand Energy Corporation (NASDAQ:EXE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,408 shares of the company’s stock, valued at approximately $928,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXE. Atlantic Union Bankshares Corp lifted its stake 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 last quarter. Rakuten Securities Inc. lifted its stake in shares of Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after acquiring an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy during the fourth quarter valued at $30,000. Abound Wealth Management boosted its stake in shares of Expand Energy by 890.0% during the fourth quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after purchasing an additional 267 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Expand Energy by 564.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company’s stock valued at $35,000 after purchasing an additional 271 shares during the period. 97.93% of the stock is owned by institutional investors.

Expand Energy Price Performance

Shares of EXE opened at $88.36 on Wednesday. The company has a 50 day moving average price of $95.60 and a 200-day moving average price of $104.05. Expand Energy Corporation has a fifty-two week low of $86.80 and a fifty-two week high of $126.62. The stock has a market capitalization of $21.14 billion, a PE ratio of 6.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Equities analysts predict that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

Insider Transactions at Expand Energy

In related news, CFO Marcel Teunissen acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average price of $96.43 per share, with a total value of $192,860.00. Following the completion of the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Wichterich acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 4,000 shares of company stock worth $375,120. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EXE has been the topic of several recent analyst reports. Benchmark raised their price target on shares of Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Weiss Ratings downgraded shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $141.00 price target on shares of Expand Energy in a research note on Thursday, February 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Finally, William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Expand Energy has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

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.