Expand Energy (NASDAQ:EXE) Announces Earnings Results

Key Points

• Expand Energy reported quarterly EPS of $999.00, beating consensus of $3.76 by $995.24; the company posted a net margin of 15.00% and a return on equity of 8.17%.
• The company paid a quarterly dividend of $0.575 (annualized $2.30) for a yield of 2.4% and a dividend payout ratio of 30.5%.
• EXE shares traded at $96.95 on the report, valuing the company at about $23.31 billion with a P/E of 12.86, and analysts hold a consensus "Moderate Buy" with an average price target of $131.95.

Expand Energy (NASDAQ:EXE - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $999.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $995.24, Zacks reports. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%.

Expand Energy Price Performance

Shares of EXE stock traded up $0.65 during trading hours on Tuesday, reaching $96.95. The company's stock had a trading volume of 1,866,229 shares, compared to its average volume of 3,843,729. Expand Energy has a fifty-two week low of $91.01 and a fifty-two week high of $126.62. The firm's 50 day simple moving average is $104.01 and its 200-day simple moving average is $107.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 12.86 and a beta of 0.47.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, March 5th. Expand Energy's dividend payout ratio (DPR) is currently 30.50%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings raised shares of Expand Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 19th. Truist Financial cut their price objective on shares of Expand Energy from $136.00 to $133.00 and set a "buy" rating for the company in a report on Thursday, April 9th. TD Cowen raised shares of Expand Energy to a "strong-buy" rating in a report on Monday, February 9th. Benchmark boosted their price objective on shares of Expand Energy from $112.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, KeyCorp reissued a "sector weight" rating on shares of Expand Energy in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.95.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the transaction, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This represents a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EXE. Alyeska Investment Group L.P. acquired a new stake in shares of Expand Energy in the 3rd quarter valued at approximately $115,504,000. State Street Corp increased its position in Expand Energy by 8.3% during the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. AQR Capital Management LLC lifted its stake in Expand Energy by 1,282.1% in the 3rd quarter. AQR Capital Management LLC now owns 970,671 shares of the company's stock valued at $103,124,000 after purchasing an additional 900,438 shares during the last quarter. Merewether Investment Management LP lifted its stake in Expand Energy by 136.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,517,475 shares of the company's stock valued at $161,217,000 after purchasing an additional 875,600 shares during the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in Expand Energy in the fourth quarter valued at approximately $95,180,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Company 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.

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