Pallas Capital Advisors LLC Purchases New Holdings in Expand Energy Corporation $EXE

Pallas Capital Advisors LLC purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,462 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atlantic Union Bankshares Corp grew its stake in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. raised 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 purchasing an additional 193 shares during the period. Eastern Bank purchased a new position in shares of Expand Energy in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. boosted its holdings in shares of Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Expand Energy in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 1.3%

EXE stock opened at $95.45 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company 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 fifty-two week low of $84.99 and a fifty-two week high of $126.62. The stock has a fifty day moving average of $90.45 and a 200-day moving average of $97.80.

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

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be paid a $0.575 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of research analyst reports. Benchmark decreased their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Barclays dropped their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday. Johnson Rice downgraded shares of Expand Energy from a “buy” rating to an “accumulate” rating and reduced their target price for the company from $135.00 to $125.00 in a research report on Monday. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, William Blair cut shares of Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.78.

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.