Dockside LLC Makes New Investment in Expand Energy Corporation $EXE

Dockside LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 127,698 shares of the company’s stock, valued at approximately $11,645,000. Expand Energy comprises about 2.7% of Dockside LLC’s portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently modified their holdings of EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Expand Energy in the 1st quarter valued at about $2,599,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Expand Energy during the 1st quarter valued at approximately $208,000. Focus Partners Wealth purchased a new stake in shares of Expand Energy during the 1st quarter valued at approximately $205,000. Geneos Wealth Management Inc. acquired a new position in Expand Energy in the first quarter valued at approximately $79,000. Finally, Gamco Investors INC. ET AL purchased a new position in Expand Energy in the second quarter worth approximately $757,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 0.1%

Expand Energy stock opened at $94.78 on Friday. The company has a market capitalization of $21.94 billion, a PE ratio of 8.18 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The firm has a 50 day moving average price of $90.24 and a 200 day moving average price of $98.10.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Research analysts expect that Expand Energy Corporation will post 8.92 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s payout ratio is currently 19.86%.

Analysts Set New Price Targets

Several research firms have issued reports on EXE. Truist Financial raised their target price on Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Benchmark decreased their price target on Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Roth Capital restated a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Expand Energy currently has an average rating of “Moderate Buy” and a consensus target price of $128.12.

Insiders Place Their Bets

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

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.