Expand Energy Corporation $EXE Stock: Viking Fund Management LLC Reduces Position

Viking Fund Management LLC cut its holdings in Expand Energy Corporation (NASDAQ:EXE) by 24.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,000 shares of the company’s stock after selling 23,000 shares during the quarter. Viking Fund Management LLC’s holdings in Expand Energy were worth $5,886,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Expand Energy in the 2nd quarter valued at approximately $1,778,004,000. Oaktree Capital Management LP grew its position in Expand Energy by 3.5% during the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after purchasing an additional 175,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after purchasing an additional 2,188,422 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Expand Energy by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,466,772 shares of the company’s stock worth $270,838,000 after purchasing an additional 166,407 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Expand Energy by 9.9% during the 1st quarter. Bank of America Corp DE now owns 1,921,098 shares of the company’s stock valued at $210,898,000 after purchasing an additional 173,503 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

EXE has been the subject of several research reports. Citigroup lowered their price objective on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Sanford C. Bernstein cut their target price on Expand Energy from $160.00 to $127.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Weiss Ratings lowered Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Roth Capital restated a “neutral” rating and issued a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, Freedom Broker raised Expand Energy to a “strong-buy” rating in a research report on Thursday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and an average target price of $123.26.

Expand Energy Trading Down 1.4%

NASDAQ EXE opened at $91.11 on Thursday. The company has a market capitalization of $21.09 billion, a PE ratio of 7.87 and a beta of 0.41. The company has a fifty day moving average of $92.67 and a 200 day moving average of $93.57. Expand Energy Corporation has a 1 year low of $83.25 and a 1 year high of $126.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Research analysts forecast that Expand Energy Corporation will post 8.59 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were issued a dividend of $0.5750 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. Expand Energy’s dividend payout ratio is 19.86%.

Expand Energy Company Profile

Expand Energy Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids in the United States. The company’s operations are focused primarily on unconventional, or shale, formations, and its products are sold to customers in domestic energy and industrial markets.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company, a transaction completed in October 2024.