9,462 Shares in Expand Energy Corporation $EXE Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new position in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,462 shares of the company’s stock, valued at approximately $863,000.

A number of other hedge funds have also added to or reduced their stakes in EXE. Atlantic Union Bankshares Corp increased 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 valued at $26,000 after buying an additional 100 shares during the period. Rakuten Securities Inc. boosted its position in shares of Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Eastern Bank bought a new position in shares of Expand Energy in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Expand Energy during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on EXE. Benchmark lowered their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Wolfe Research restated an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Morgan Stanley decreased their price target on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Johnson Rice downgraded Expand Energy from a “buy” rating to an “accumulate” rating and lowered their price objective for the stock from $135.00 to $125.00 in a research report on Monday. Finally, Barclays dropped their price objective on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and a consensus target price of $127.78.

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 cost of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $95.45 on Wednesday. The company’s fifty day moving average price is $90.45 and its 200-day moving average price is $97.80. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 8.24 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 has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities research analysts anticipate that Expand Energy Corporation will post 8.92 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy’s payout ratio is 19.86%.

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.