Expand Energy Corporation $EXE is 59 North Capital Management LP’s 9th Largest Position

59 North Capital Management LP grew its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 37.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,841,634 shares of the company’s stock after acquiring an additional 500,977 shares during the quarter. Expand Energy comprises about 6.3% of 59 North Capital Management LP’s investment portfolio, making the stock its 9th biggest holding. 59 North Capital Management LP’s holdings in Expand Energy were worth $203,243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH boosted its holdings in shares of Expand Energy by 6.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after acquiring an additional 88 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Expand Energy by 1.0% during the 3rd quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the company’s stock valued at $1,041,000 after acquiring an additional 100 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. McGowan Group Asset Management Inc. lifted its stake in shares of Expand Energy by 0.4% in the 4th quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company’s stock worth $2,657,000 after purchasing an additional 105 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its stake in shares of Expand Energy by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,184 shares of the company’s stock worth $232,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Buying and Selling at Expand Energy

In related news, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the purchase, the chief financial officer owned 9,144 shares of the company’s stock, valued at $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 4,000 shares of company stock valued at $375,120 over the last ninety days. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. William Blair cut shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Piper Sandler raised their target price on shares of Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Truist Financial restated a “buy” rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research note on Monday, February 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $141.00 target price on shares of Expand Energy in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.45.

Expand Energy Trading Down 1.0%

Shares of EXE opened at $87.46 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. Expand Energy Corporation has a 1 year low of $86.80 and a 1 year high of $126.62. The company has a 50 day simple moving average of $95.28 and a two-hundred day simple moving average of $103.83. The firm has a market cap of $20.92 billion, a P/E ratio of 6.52 and a beta of 0.33.

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

Expand Energy Dividend Announcement

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