Tidal Investments LLC Sells 96,000 Shares of Expand Energy Corporation $EXE

Tidal Investments LLC cut its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 40.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 144,285 shares of the company’s stock after selling 96,000 shares during the quarter. Tidal Investments LLC’s holdings in Expand Energy were worth $13,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EXE. California State Teachers Retirement System boosted its stake in shares of Expand Energy by 9,116.8% in the 2nd quarter. California State Teachers Retirement System now owns 25,499,733 shares of the company’s stock worth $2,325,321,000 after buying an additional 25,223,067 shares during the last quarter. Capital Research Global Investors increased its position in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after acquiring an additional 5,291,948 shares during the last quarter. BlackRock Inc. purchased a new stake in Expand Energy during the second quarter valued at $1,778,004,000. State Street Corp lifted its holdings in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after acquiring an additional 1,014,484 shares during the period. Finally, Oaktree Capital Management LP lifted its holdings in Expand Energy by 3.5% in the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after acquiring an additional 175,114 shares during the period. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup cut their price target on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Benchmark dropped their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their target price for the company from $135.00 to $125.00 in a research report on Monday, August 17th. Roth Capital reaffirmed a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $114.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.16.

Expand Energy Stock Performance

NASDAQ:EXE opened at $94.83 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day simple moving average of $93.58 and a two-hundred day simple moving average of $96.76. The firm has a market capitalization of $21.95 billion, a PE ratio of 8.19 and a beta of 0.34. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Analysts forecast that Expand Energy Corporation will post 8.7 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were paid a dividend of $0.575 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

About Expand Energy

Expand Energy Corporation (NASDAQ: EXE) is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company’s operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.