Permanent Capital Management LP Invests $2.57 Million in Expand Energy Corporation $EXE

Permanent Capital Management LP bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,184 shares of the company’s stock, valued at approximately $2,569,000. Expand Energy makes up about 0.5% of Permanent Capital Management LP’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. acquired a new position in shares of Expand Energy in the first quarter worth about $5,394,000. CreativeOne Wealth LLC purchased a new position in shares of Expand Energy in the 1st quarter valued at about $205,000. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Expand Energy in the 1st quarter valued at about $1,095,000. OMERS ADMINISTRATION Corp acquired a new position in Expand Energy in the 1st quarter worth about $506,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Expand Energy during the first quarter worth approximately $317,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EXE shares. Jefferies Financial Group cut their price objective on Expand Energy from $141.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, October 3rd. Wells Fargo & Company raised shares of Expand Energy to a “hold” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Expand Energy in a report on Monday, December 15th. KeyCorp dropped their target price on shares of Expand Energy from $135.00 to $127.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Finally, Piper Sandler upped their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.44.

Expand Energy Trading Up 0.3%

Shares of EXE opened at $109.49 on Monday. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $126.62. The stock has a market cap of $26.08 billion, a PE ratio of 31.11 and a beta of 0.45. The firm’s fifty day moving average is $112.56 and its two-hundred day moving average is $106.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28.

Expand Energy (NASDAQ:EXE) last posted 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. Expand Energy had a net margin of 7.99% and a return on equity of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, November 13th. Expand Energy’s payout ratio is currently 65.34%.

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.