Alden Global Capital LLC Decreases Stock Holdings in Expand Energy Corporation $EXE

Alden Global Capital LLC lowered its stake in Expand Energy Corporation (NASDAQ:EXE) by 5.1% during the fourth quarter, Holdings Channel reports. The firm owned 131,079 shares of the company’s stock after selling 7,028 shares during the period. Expand Energy makes up approximately 6.8% of Alden Global Capital LLC’s investment portfolio, making the stock its 4th biggest position. Alden Global Capital LLC’s holdings in Expand Energy were worth $14,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXE. Capital Research Global Investors grew its position in Expand Energy by 161.5% in the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock valued at $1,695,520,000 after acquiring an additional 9,856,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Expand Energy during the fourth quarter worth about $145,633,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Expand Energy by 862.3% during the third quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company’s stock worth $133,542,000 after purchasing an additional 1,126,363 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler upped their target price on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Truist Financial reiterated a “buy” rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. UBS Group upped their target price on Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Finally, Benchmark upped their target price on Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.45.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were 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 approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This represents a 28.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 4,000 shares of company stock worth $375,120 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

Expand Energy stock opened at $87.46 on Thursday. The stock has a market capitalization of $20.92 billion, a price-to-earnings ratio of 6.52 and a beta of 0.33. Expand Energy Corporation has a 52-week low of $86.80 and a 52-week high of $126.62. The stock’s 50 day moving average price is $95.28 and its two-hundred day moving average price is $103.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11.

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

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend 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.