Strs Ohio Makes New $17.93 Million Investment in Expand Energy Corporation $EXE

Key Points

• Strs Ohio acquired 161,073 shares of Expand Energy Corporation (NASDAQ:EXE) valued at approximately $17.93 million, representing about 0.07% of the company.
• CEO Domenic J. Dell'osso, Jr. increased his ownership by acquiring 2,500 shares at an average price of $95.86, bringing his total to approximately $15.98 million.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, which leads to an annual dividend yield of 2.4% and a payout ratio of 589.74%.

Strs Ohio bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 161,073 shares of the company's stock, valued at approximately $17,931,000. Strs Ohio owned 0.07% of Expand Energy as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. acquired a new position in Expand Energy in the first quarter valued at about $2,973,033,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new stake in Expand Energy in the 1st quarter valued at approximately $701,831,000. Wellington Management Group LLP purchased a new stake in Expand Energy in the first quarter valued at approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Expand Energy during the first quarter worth $518,328,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Expand Energy

In other Expand Energy news, COO Joshua J. Viets bought 2,000 shares of the stock in a transaction dated 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average price of $95.86 per share, with a total value of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares in the company, valued at $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. Insiders own 0.19% of the company's stock.

Expand Energy Stock Down 1.3%

EXE stock traded down $1.33 during midday trading on Thursday, reaching $98.36. 1,646,168 shares of the company were exchanged, compared to its average volume of 3,646,161. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 252.32 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a 1-year low of $75.17 and a 1-year high of $123.35. The stock's 50-day simple moving average is $98.91 and its 200 day simple moving average is $105.96.

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

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors 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 yield of 2.3%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXE. The Goldman Sachs Group dropped their price objective on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Siebert Williams Shank lowered their target price on Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the stock a "buy" rating in a research note on Saturday, June 14th. Raymond James Financial reissued a "strong-buy" rating and issued a $150.00 price objective (up previously from $146.00) on shares of Expand Energy in a research note on Thursday, September 11th. Finally, Barclays lifted their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Expand Energy currently has an average rating of "Buy" and an average price target of $127.46.

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.