Expand Energy Corporation $EXE Position Decreased by Oaktree Capital Management LP

Oaktree Capital Management LP cut its holdings in Expand Energy Corporation (NASDAQ:EXE) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,062,364 shares of the company’s stock after selling 500,000 shares during the period. Expand Energy comprises approximately 10.2% of Oaktree Capital Management LP’s portfolio, making the stock its 2nd biggest holding. Oaktree Capital Management LP owned about 2.13% of Expand Energy worth $591,993,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EXE. Vanguard Group Inc. grew its stake in Expand Energy by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 27,266,977 shares of the company’s stock valued at $3,188,600,000 after purchasing an additional 559,887 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Expand Energy in the 1st quarter worth about $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new position in Expand Energy during the first quarter valued at about $701,831,000. Geode Capital Management LLC increased its holdings in Expand Energy by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,812,172 shares of the company’s stock worth $677,029,000 after buying an additional 170,222 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Expand Energy during the first quarter worth about $624,083,000. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Stock Performance

NASDAQ EXE opened at $122.09 on Friday. The company has a market capitalization of $29.08 billion, a P/E ratio of 34.68 and a beta of 0.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 0.81. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $124.89. The company has a fifty day moving average of $110.35 and a 200-day moving average of $107.33.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%.The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.98 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.30 annualized dividend and a dividend yield of 1.9%. Expand Energy’s dividend payout ratio (DPR) is 65.34%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Expand Energy in a research report on Monday. Roth Capital downgraded Expand Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $98.00 in a research note on Monday, August 18th. William Blair started coverage on Expand Energy in a research report on Tuesday, October 14th. They issued an “outperform” rating for the company. Mizuho set a $136.00 target price on Expand Energy in a research note on Monday, September 15th. Finally, Piper Sandler upped their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.32.

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.