Expand Energy Corporation $EXE Stake Lowered by Alden Global Capital LLC

Alden Global Capital LLC trimmed its holdings in Expand Energy Corporation (NASDAQ:EXE) by 19.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,414 shares of the company’s stock after selling 13,985 shares during the quarter. Expand Energy comprises approximately 4.1% of Alden Global Capital LLC’s portfolio, making the stock its 10th biggest position. Alden Global Capital LLC’s holdings in Expand Energy were worth $6,597,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EXE. Public Sector Pension Investment Board purchased a new position in shares of Expand Energy in the 1st quarter valued at $6,257,000. Resona Asset Management Co. Ltd. acquired a new position in Expand Energy in the first quarter valued at $7,196,000. Prudential PLC purchased a new position in shares of Expand Energy during the first quarter worth about $2,215,000. Russell Investments Group Ltd. acquired a new stake in shares of Expand Energy during the first quarter worth about $39,816,000. Finally, National Pension Service purchased a new stake in shares of Expand Energy in the 1st quarter valued at about $33,056,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Trading Down 1.3%

Shares of Expand Energy stock opened at $112.79 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. The firm has a market cap of $26.86 billion, a price-to-earnings ratio of 32.04 and a beta of 0.45. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $126.62. The company’s 50-day simple moving average is $111.55 and its 200-day simple moving average is $107.43.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. As a group, equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, November 13th. Expand Energy’s payout ratio is presently 65.34%.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of Expand Energy in a research note on Thursday, October 9th. UBS Group increased their price target on shares of Expand Energy from $132.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler raised their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Mizuho upped their target price on shares of Expand Energy from $136.00 to $142.00 and gave the company an “outperform” rating in a report on Friday. Finally, Roth Capital downgraded shares of Expand Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $98.00 in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy has an average rating of “Moderate Buy” and an average target price of $129.44.

Expand Energy Profile

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.