Expand Energy Target of Unusually Large Options Trading (NASDAQ:EXE)

Key Points

• Expand Energy Corporation experienced a significant surge in options trading, with 27,582 call options bought, marking a 384% increase compared to typical volumes.
• The company recently reported quarterly earnings of $1.10 EPS, falling short of the expected $1.14 EPS, but its revenue exceeded forecasts with $3.69 billion reported.
• Expand Energy announced a quarterly dividend of $0.575 per share, resulting in a 2.3% annual dividend yield amid a high dividend payout ratio of 589.74%.

Expand Energy Corporation (NASDAQ:EXE - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors acquired 27,582 call options on the stock. This represents an increase of approximately 384% compared to the typical daily volume of 5,699 call options.

Expand Energy Stock Performance

Shares of NASDAQ EXE traded up $1.28 during midday trading on Friday, reaching $99.87. The company had a trading volume of 663,236 shares, compared to its average volume of 3,669,342. The business's 50-day simple moving average is $99.42 and its 200 day simple moving average is $105.89. The stock has a market cap of $23.78 billion, a P/E ratio of 256.27 and a beta of 0.47. Expand Energy has a 1 year low of $82.69 and a 1 year high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, analysts forecast that Expand Energy will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is 589.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Tudor Pickering & Holt lowered their price objective on shares of Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. Raymond James Financial reissued a "strong-buy" rating and issued a $150.00 price objective (up from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. William Blair started coverage on shares of Expand Energy in a research note on Tuesday. They set an "outperform" rating on the stock. Wells Fargo & Company dropped their price objective on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, Bernstein Bank dropped their price objective on shares of Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.62.

Insider Buying and Selling at Expand Energy

In related news, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the acquisition, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of Expand Energy stock in a transaction dated Friday, August 15th. The stock was acquired at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the acquisition, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXE. GAMMA Investing LLC purchased a new position in shares of Expand Energy during the first quarter worth $328,000. Fifth Third Bancorp purchased a new position in shares of Expand Energy during the first quarter worth $149,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Expand Energy during the first quarter worth $1,179,000. Ritholtz Wealth Management purchased a new position in shares of Expand Energy during the first quarter worth $256,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Expand Energy during the first quarter worth $408,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.