7,015 Shares in Expand Energy Corporation $EXE Bought by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC purchased 7,015 shares of Expand Energy Corporation (NASDAQ: EXE), valued at approximately $820,000, in the second quarter, marking a growing interest in the stock.
• Multiple institutional investors significantly invested in Expand Energy during the first quarter, with Vanguard Group Inc. leading with a stake worth nearly $3 billion, indicating strong confidence in the company.
• Expand Energy reported its quarterly earnings with earnings per share of $1.10, missing expectations, but achieving a revenue of $3.69 billion, well above analyst projections.

Confluence Investment Management LLC bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,015 shares of the company's stock, valued at approximately $820,000.

A number of other large investors have also recently bought and sold shares of EXE. Vanguard Group Inc. bought a new position in Expand Energy in the first quarter worth about $2,973,033,000. Price T Rowe Associates Inc. MD bought a new position in Expand Energy in the first quarter worth about $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new position in Expand Energy in the first quarter worth about $701,831,000. Wellington Management Group LLP bought a new position in Expand Energy in the first quarter worth about $624,083,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Expand Energy in the first quarter worth about $518,328,000. Institutional investors own 97.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their target price on shares of Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Capital One Financial cut their price target on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. KeyCorp cut their price target on Expand Energy from $135.00 to $127.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Mizuho set a $136.00 price target on Expand Energy in a report on Monday. Finally, Siebert Williams Shank cut their price target on Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $127.46.

Insider Activity at Expand Energy

In other Expand Energy news, COO Joshua J. Viets purchased 2,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were purchased at an average price 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 $5,684,060.16. This represents a 3.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the firm's stock in a transaction on Friday, August 15th. The stock was acquired at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares of the company's stock, valued at $15,981,299.90. The trade was a 1.52% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Expand Energy Price Performance

Shares of NASDAQ EXE traded down $0.82 during mid-day trading on Friday, reaching $98.07. 1,153,756 shares of the company traded hands, compared to its average volume of 3,644,428. Expand Energy Corporation has a fifty-two week low of $75.90 and a fifty-two week high of $123.35. 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 firm has a market cap of $23.35 billion, a PE ratio of 251.58 and a beta of 0.46. The stock has a fifty day simple moving average of $98.79 and a 200-day simple moving average of $105.96.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Equities research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's payout ratio is 589.74%.

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.