Fore Capital LLC Invests $1.37 Million in Expand Energy Corporation $EXE

Fore Capital LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,000 shares of the company’s stock, valued at approximately $1,368,000. Expand Energy makes up about 0.4% of Fore Capital LLC’s investment portfolio, making the stock its 20th largest position.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Expand Energy during the first quarter worth $2,599,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Expand Energy in the 1st quarter valued at $208,000. Focus Partners Wealth purchased a new position in shares of Expand Energy in the 1st quarter valued at $205,000. Geneos Wealth Management Inc. bought a new position in shares of Expand Energy in the 1st quarter worth $79,000. Finally, Gamco Investors INC. ET AL bought a new position in shares of Expand Energy in the 2nd quarter worth $757,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Trading Up 1.3%

Shares of Expand Energy stock opened at $95.45 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 8.24 and a beta of 0.34. The firm’s 50 day simple moving average is $90.45 and its two-hundred day simple moving average is $97.80.

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. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. Analysts predict that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Announces Dividend

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

Insider Buying and Selling

In other news, CEO Michael Wichterich purchased 1,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Barclays reduced their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday. Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and lowered their price target for the company from $135.00 to $125.00 in a report on Monday. William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Benchmark reduced their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Expand Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.78.

About Expand Energy

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.