15,555 Shares in Expand Energy Corporation $EXE Purchased by Nierenberg Investment Management Company LLC

Nierenberg Investment Management Company LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,555 shares of the company’s stock, valued at approximately $1,418,460. Expand Energy comprises approximately 0.0% of Nierenberg Investment Management Company LLC’s portfolio, making the stock its 19th biggest holding.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp raised its holdings 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 valued at $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. raised its stake in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Eastern Bank purchased a new position in Expand Energy during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. grew its stake in shares of Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Expand Energy in the 4th quarter valued at $30,000. 97.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EXE. William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Roth Capital reaffirmed a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Benchmark reduced their price objective on Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. The Goldman Sachs Group lifted their price objective on Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.89.

Insiders Place Their Bets

In other news, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Expand Energy Trading Up 0.7%

Shares of EXE traded up $0.66 during trading hours on Friday, reaching $98.66. 894,462 shares of the company traded hands, compared to its average volume of 3,619,877. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 8.52 and a beta of 0.34. The stock’s fifty day moving average price is $91.62 and its 200 day moving average price is $97.14. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.

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.