Clough Capital Partners L P Trims Stake in Expand Energy Corporation $EXE

Clough Capital Partners L P trimmed its stake in Expand Energy Corporation (NASDAQ:EXE) by 20.0% in the 4th quarter, HoldingsChannel reports. The firm owned 224,715 shares of the company’s stock after selling 56,139 shares during the period. Expand Energy makes up 2.2% of Clough Capital Partners L P’s portfolio, making the stock its 15th largest holding. Clough Capital Partners L P’s holdings in Expand Energy were worth $24,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Expand Energy in the 1st quarter worth $2,599,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Expand Energy in the 1st quarter worth $208,000. Focus Partners Wealth purchased a new stake in shares of Expand Energy in the 1st quarter worth $205,000. Geneos Wealth Management Inc. purchased a new stake in shares of Expand Energy in the 1st quarter worth $79,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Expand Energy in the 2nd quarter worth $757,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Trading Down 1.0%

Shares of Expand Energy stock opened at $87.46 on Thursday. The firm has a market cap of $20.92 billion, a price-to-earnings ratio of 6.52 and a beta of 0.33. The business has a 50-day moving average price of $95.28 and a 200-day moving average price of $103.83. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a twelve month low of $86.80 and a twelve month high of $126.62.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. Equities research analysts anticipate that Expand Energy Corporation will post 8.87 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

Insider Transactions at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of the business’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 transaction, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average cost of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 4,000 shares of company stock valued at $375,120. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

EXE has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, May 22nd. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Piper Sandler increased their price target on Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Stephens increased their price target on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company set a $123.00 price target on Expand Energy in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

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.