Sycamore Capital Management's Mid Cap Value Equity Strategy cited Expand Energy Corporation as a top detractor in the second quarter of 2026, citing a below-expectations capital expenditure guide and the resignation of its controller. The strategy returned 9.6% net in the quarter, underperforming the Russell Midcap Value Index's 13.83% return. Expand Energy, a US-based independent natural gas producer, beat first-quarter revenue and earnings forecasts and repurchased $150 million in shares, but management's capex guidance for the rest of 2026 disappointed investors. The controller's departure left the CFO covering dual accounting responsibilities in the interim. Expand Energy closed at $95.71 per share on August 12, 2026, with a market capitalization of $22.29 billion, and hedge fund ownership fell to 81 portfolios from 94 in the previous quarter.
Devon Energy Corporation
Kimbell Royalty Partners LPExpand Energy CorporationBelow-expectations capex guidance and controller resignation cited as top detractor.
