Nierenberg Investment Management Company LLC Makes New $1.42 Billion Investment in Expand Energy Corporation $EXE

Nierenberg Investment Management Company LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,555 shares of the company’s stock, valued at approximately $1,418,460,000. Expand Energy comprises approximately 0.7% of Nierenberg Investment Management Company LLC’s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH boosted its holdings in shares of Expand Energy by 6.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock worth $147,000 after buying an additional 88 shares during the period. Atlantic Union Bankshares Corp grew its stake in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. McGowan Group Asset Management Inc. raised its holdings in Expand Energy by 0.4% in the 4th quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company’s stock worth $2,657,000 after acquiring an additional 105 shares during the period. Smartleaf Asset Management LLC raised its holdings in Expand Energy by 25.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock worth $61,000 after acquiring an additional 110 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Expand Energy by 4.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock worth $286,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $96.03 on Thursday. 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 Corporation has a one year low of $84.99 and a one year high of $126.62. The company has a fifty day moving average price of $90.60 and a 200 day moving average price of $97.70. The stock has a market cap of $22.23 billion, a P/E ratio of 8.29 and a beta of 0.34.

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

Expand Energy Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This 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. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Benchmark decreased their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Johnson Rice downgraded Expand Energy from a “buy” rating to an “accumulate” rating and decreased their target price for the company from $135.00 to $125.00 in a research note on Monday. Roth Capital restated a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a research note 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 report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.