Cobalt Capital Management Inc. Makes New $13.24 Million Investment in Expand Energy Corporation $EXE

Cobalt Capital Management Inc. acquired a new position in Expand Energy Corporation (NASDAQ:EXE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,000 shares of the company’s stock, valued at approximately $13,243,000. Expand Energy makes up 5.9% of Cobalt Capital Management Inc.’s portfolio, making the stock its 5th biggest holding. Cobalt Capital Management Inc. owned about 0.05% of Expand Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Expand Energy by 2.4% in the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock worth $2,965,510,000 after acquiring an additional 646,330 shares in the last quarter. Capital Research Global Investors raised its position in Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares in the last quarter. State Street Corp raised its position in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares in the last quarter. Invesco Ltd. raised its position in Expand Energy by 16.5% in the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock worth $463,140,000 after acquiring an additional 619,001 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Expand Energy by 192.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after acquiring an additional 2,160,979 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Trading Down 1.0%

Shares of EXE stock opened at $87.46 on Thursday. Expand Energy Corporation has a fifty-two week low of $86.80 and a fifty-two week high of $126.62. The stock has a market cap of $20.92 billion, a P/E ratio of 6.52 and a beta of 0.33. The business has a fifty day simple moving average of $95.28 and a 200-day simple moving average of $103.83. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. On average, analysts forecast that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

Analyst Ratings Changes

EXE has been the subject of several research analyst reports. Stephens increased their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research report on Monday, February 23rd. KeyCorp restated a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.45.

Insiders Place Their Bets

In related news, CFO Marcel Teunissen acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, with a total value of $192,860.00. Following the completion of the purchase, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 4,000 shares of company stock worth $375,120. Corporate insiders own 0.22% of the company’s stock.

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.