MetLife Investment Management LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• MetLife Investment Management LLC purchased 54,983 shares of Expand Energy Corporation, valued at approximately $6.12 million, reflecting strong institutional interest in the company.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, with a significant payout ratio of 589.74%, indicating a commitment to returning value to shareholders despite a recent earnings miss.
• The company's stock is experiencing fluctuating analyst ratings, with a consensus rating of "Buy" and a target price of $127.42, amid predictions for a 1.33 EPS for the current fiscal year.

MetLife Investment Management LLC acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 54,983 shares of the company's stock, valued at approximately $6,121,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Harbour Investments Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at $28,000. Pinney & Scofield Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at $29,000. Cheviot Value Management LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $29,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $31,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Price Performance

EXE traded down $0.46 during midday trading on Friday, reaching $96.78. 1,493,936 shares of the company's stock were exchanged, compared to its average volume of 3,143,811. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $23.05 billion, a PE ratio of 25.27 and a beta of 0.46. The business's 50-day moving average price is $103.33 and its 200 day moving average price is $106.64. Expand Energy Corporation has a 1-year low of $69.12 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, equities analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy's payout ratio is presently 589.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXE. Bernstein Bank reduced their price objective on shares of Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Barclays lifted their price target on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their price objective on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Finally, Wells Fargo & Company lowered their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $127.42.

Insider Buying and Selling

In other news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joshua J. Viets acquired 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the transaction, the chief operating officer owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% 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.