147,558 Shares in Expand Energy Corporation $EXE Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired 147,558 shares of Expand Energy in the second quarter, worth approximately $13.5 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, exceeding analyst expectations of $1.13, although revenue of $2.96 billion fell short of the $3.05 billion consensus estimate.
• The company declared a quarterly dividend of $0.575 per share, or $2.30 annually, representing a 2.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $127.67.

Ieq Capital LLC bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 147,558 shares of the company's stock, valued at approximately $13,456,000. Ieq Capital LLC owned approximately 0.06% of Expand Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. Siemens Fonds Invest GmbH grew its stake in shares of Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock worth $147,000 after acquiring an additional 88 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. McGowan Group Asset Management Inc. raised its position in shares of Expand Energy by 0.4% in the 4th quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock valued at $2,657,000 after purchasing an additional 105 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Expand Energy by 25.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company's stock valued at $61,000 after purchasing an additional 110 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Expand Energy by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company's stock worth $286,000 after purchasing an additional 111 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Trading Up 0.0%

Shares of NASDAQ:EXE opened at $96.09 on Friday. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $90.93 and a 200-day moving average price of $97.58.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Equities analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy's payout ratio is presently 19.86%.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer directly 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. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on EXE shares. Citigroup dropped their target price on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Wolfe Research reaffirmed an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Benchmark lowered their price objective on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. UBS Group lowered their price objective on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $127.67.

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.

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