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 shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,015 shares of the company's stock, valued at approximately $820,000.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Tudor Pickering & Holt decreased their price target on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 target price for the company in a report on Thursday, May 22nd. UBS Group reduced their target price on Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. KeyCorp reduced their target price on Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Morgan Stanley boosted their target price on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $127.69.

Insider Buying and Selling

In related news, COO Joshua J. Viets acquired 2,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought 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 $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the business's stock in a transaction dated Friday, August 15th. The shares were acquired at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the purchase, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Expand Energy Stock Up 0.4%

Expand Energy stock opened at $96.22 on Friday. Expand Energy Corporation has a twelve month low of $72.35 and a twelve month high of $123.35. The stock has a 50 day moving average of $99.47 and a two-hundred day moving average of $106.03. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 246.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates 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. As a group, research analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 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.

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