Hodges Capital Management Inc. Acquires Shares of 116,075 Expand Energy Corporation $EXE

Key Points

• Hodges Capital Management Inc. acquired 116,075 shares of Expand Energy Corporation, valued at approximately $12.9 million, making it the firm's 19th largest holding.
• Expand Energy announced a quarterly dividend of $0.575, translating to an annualized dividend of $2.30 with a yield of 2.4%.
• Despite a revenue of $3.69 billion in its last quarter, Expand Energy's earnings per share fell short of expectations, reporting $1.10 against a consensus of $1.14.

Hodges Capital Management Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 116,075 shares of the company's stock, valued at approximately $12,921,000. Expand Energy accounts for about 1.3% of Hodges Capital Management Inc.'s portfolio, making the stock its 19th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC acquired a new position in Expand Energy in the 1st quarter valued at about $27,000. Harbour Investments Inc. acquired a new position in Expand Energy during the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. acquired a new position in Expand Energy during the 1st quarter worth approximately $28,000. Quarry LP acquired a new position in Expand Energy during the 1st quarter worth approximately $28,000. Finally, Pinney & Scofield Inc. acquired a new position in Expand Energy during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Price Performance

NASDAQ:EXE traded up $1.93 during trading hours on Tuesday, reaching $97.51. 3,144,453 shares of the company traded hands, compared to its average volume of 3,651,630. The firm's 50-day moving average is $99.20 and its 200-day moving average is $106.06. The stock has a market cap of $23.22 billion, a P/E ratio of 250.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. Expand Energy Corporation has a 1-year low of $72.77 and a 1-year high of $123.35.

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

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.575 per share. 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, August 14th. Expand Energy's dividend payout ratio is currently 589.74%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EXE shares. Jefferies Financial Group set a $135.00 target price on Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. Bernstein Bank lowered their price target on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Sanford C. Bernstein upgraded Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a report on Thursday, May 22nd. Wolfe Research lowered their price target on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group lowered their price target on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $127.46.

About Expand Energy

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.