Expand Energy Corporation $EXE Shares Bought by Castleark Management LLC

Castleark Management LLC boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 416.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,240 shares of the company’s stock after buying an additional 71,950 shares during the period. Castleark Management LLC’s holdings in Expand Energy were worth $10,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EXE. Inspire Investing LLC acquired a new position in Expand Energy in the first quarter valued at about $312,000. Horizon Investments LLC acquired a new stake in shares of Expand Energy during the first quarter valued at about $342,000. Plato Investment Management Ltd purchased a new stake in shares of Expand Energy in the 1st quarter valued at approximately $503,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Expand Energy in the 2nd quarter worth approximately $209,000. Finally, Confluence Investment Management LLC purchased a new position in shares of Expand Energy during the 2nd quarter worth approximately $820,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Trading Down 1.3%

NASDAQ:EXE opened at $112.79 on Friday. The firm has a market cap of $26.86 billion, a PE ratio of 32.04 and a beta of 0.45. The stock has a fifty day moving average price of $111.55 and a 200 day moving average price of $107.36. Expand Energy Corporation has a 12-month low of $91.01 and a 12-month high of $126.62. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%. Sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.30 annualized dividend and a yield of 2.0%. Expand Energy’s dividend payout ratio (DPR) is 65.34%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Expand Energy in a research report on Monday, December 1st. KeyCorp dropped their price objective on Expand Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Piper Sandler increased their target price on Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Roth Capital downgraded Expand Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $98.00 in a research report on Monday, August 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 price target (up from $146.00) on shares of Expand Energy in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Expand Energy presently has an average rating of “Moderate Buy” and an average target price of $129.44.

Expand Energy Company 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.