428,603 Shares in Expand Energy Corporation $EXE Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC bought 428,603 shares of Expand Energy in the second quarter, valued at approximately $39.1 million and representing a 0.19% stake. Other institutions also initiated positions, with institutional investors collectively owning 97.93% of the stock.
• Expand Energy reported quarterly EPS of $1.33, beating estimates of $1.13, although revenue of $2.96 billion fell short of the $3.05 billion consensus forecast.
• The company declared a quarterly dividend of $0.575 per share, or $2.30 annualized, yielding about 2.3%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $126.89.

Jupiter Topco LLC bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 428,603 shares of the company's stock, valued at approximately $39,083,000. Jupiter Topco LLC owned 0.19% of Expand Energy at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EXE. Hsbc Holdings PLC bought a new position in shares of Expand Energy during the second quarter worth about $101,089,000. Primecap Management Co. CA bought a new stake in Expand Energy in the 2nd quarter valued at about $29,678,000. Canada Pension Plan Investment Board bought a new stake in Expand Energy in the 2nd quarter valued at about $6,548,000. Manatuck Hill Partners LLC acquired a new position in Expand Energy during the 2nd quarter valued at about $456,000. Finally, Castleark Management LLC acquired a new position in Expand Energy during the 2nd quarter valued at about $5,584,000. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Stock Performance

EXE stock opened at $98.00 on Friday. The company has a 50-day simple moving average of $91.62 and a 200 day simple moving average of $97.14. The company has a market capitalization of $22.69 billion, a P/E ratio of 8.46 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. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

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

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is 19.86%.

Analyst Upgrades and Downgrades

Several research firms have commented on EXE. UBS Group decreased their target price on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Johnson Rice downgraded Expand Energy from a "buy" rating to an "accumulate" rating and reduced their price objective for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Morgan Stanley reduced their price objective on Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Truist Financial increased their price objective on Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Citigroup lowered their target price on Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.89.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company's stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

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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