5,606,203 Shares in Expand Energy Corporation $EXE Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP acquired 5,606,203 shares of Expand Energy Corporation, worth approximately $624 million, making them a significant institutional investor with a 2.36% stake in the company.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, resulting in a yield of 2.5%, although the company's dividend payout ratio stands at an unusually high 589.74%.
• Expand Energy reported earnings of $1.10 per share for the last quarter, missing estimates, but the revenue surpassed expectations at $3.69 billion, compared to analyst estimates of $2.09 billion.

Wellington Management Group LLP acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,606,203 shares of the company's stock, valued at approximately $624,083,000. Wellington Management Group LLP owned about 2.36% of Expand Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Expand Energy during the first quarter worth approximately $36,507,000. Parallel Advisors LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at $286,000. Doliver Advisors LP purchased a new position in shares of Expand Energy in the 1st quarter valued at $446,000. Peoples Bank KS acquired a new stake in Expand Energy during the 1st quarter worth $33,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Expand Energy in the first quarter valued at $466,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Trading Down 2.2%

NASDAQ:EXE opened at $93.03 on Tuesday. Expand Energy Corporation has a 52-week low of $69.12 and a 52-week high of $123.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $107.34 and a 200-day simple moving average of $107.21. The company has a market capitalization of $22.16 billion, a PE ratio of 238.54 and a beta of 0.46.

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%. On average, 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 business also recently declared 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 of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.5%. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Analyst Ratings Changes

Several analysts have recently weighed in on EXE shares. Barclays boosted their target price on Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Siebert Williams Shank decreased their price objective on Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Tudor Pickering & Holt reduced their price target on shares of Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. Piper Sandler lowered their price objective on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Finally, Capital One Financial reduced their target price on shares of Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $127.92.

Insider Buying and Selling at Expand Energy

In related news, COO Joshua J. Viets acquired 2,000 shares of Expand Energy 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 directly owned 61,676 shares of the company's stock, valued at $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the purchase, the chief executive officer owned 166,715 shares of the company's stock, valued at approximately $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. Company insiders own 0.17% of the company's stock.

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.

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