Delta Global Management LP Lowers Position in Expand Energy Corporation $EXE

Delta Global Management LP trimmed its position in Expand Energy Corporation (NASDAQ:EXE) by 82.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,421 shares of the company’s stock after selling 20,960 shares during the quarter. Delta Global Management LP’s holdings in Expand Energy were worth $488,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew its holdings in shares of Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Expand Energy by 350.9% in the 4th 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 last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy in the 4th quarter valued at about $30,000. Abound Wealth Management lifted its holdings in shares of Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after acquiring an additional 267 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Expand Energy by 564.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company’s stock valued at $35,000 after acquiring an additional 271 shares during the last quarter. 97.93% of the stock is owned by institutional investors.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction 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. This trade represents a 1.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marcel Teunissen acquired 2,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the transaction, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 4,000 shares of company stock worth $375,120. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Morgan Stanley decreased their price target on Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Benchmark upped their price target on shares of Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Jefferies Financial Group reiterated a “buy” rating and set a $141.00 price target on shares of Expand Energy in a report on Thursday, February 19th. Finally, UBS Group upped their price target on shares of Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Expand Energy has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

Expand Energy Stock Performance

Shares of Expand Energy stock opened at $88.36 on Wednesday. The firm has a market capitalization of $21.14 billion, a P/E ratio of 6.59 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. 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 52 week low of $86.80 and a 52 week high of $126.62.

Expand Energy (NASDAQ:EXE) last announced 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. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Sell-side analysts expect that Expand Energy Corporation will post 8.7 EPS for the current year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend payout ratio is currently 17.15%.

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.