7,156 Shares in Expand Energy Corporation $EXE Bought by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. has acquired a new stake in Expand Energy Corporation, purchasing 7,156 shares valued at approximately $837,000 during the second quarter.
• Wall Street analysts maintain a generally positive outlook, with a consensus price target of $127.62 for the stock, although several have reduced their price targets recently.
• Expand Energy reported $1.10 EPS for the last quarter, missing estimates, but had a substantial revenue of $3.69 billion compared to expectations of $2.09 billion.

Cookson Peirce & Co. Inc. purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,156 shares of the company's stock, valued at approximately $837,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transamerica Financial Advisors LLC purchased a new stake in shares of Expand Energy during the first quarter worth about $27,000. Harbour Investments Inc. purchased a new position in shares of Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. purchased a new position in Expand Energy during the 1st quarter worth $28,000. Quarry LP purchased a new position in Expand Energy during the 1st quarter worth $28,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. KeyCorp dropped their price target on Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Expand Energy in a research note on Wednesday, October 8th. The Goldman Sachs Group reduced their price objective on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Bernstein Bank reduced their price objective on Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Finally, Wolfe Research reduced their price objective on Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.62.

Expand Energy Price Performance

Shares of EXE opened at $104.39 on Thursday. Expand Energy Corporation has a twelve month low of $82.69 and a twelve month high of $123.35. The stock's 50 day moving average is $99.99 and its two-hundred day moving average is $105.76. The firm has a market capitalization of $24.86 billion, a PE ratio of 267.67 and a beta of 0.47. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly 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). 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. Research analysts anticipate 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. Stockholders of record on Thursday, August 14th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.2%. Expand Energy's payout ratio is currently 589.74%.

Insider Buying and Selling at Expand Energy

In related news, COO Joshua J. Viets acquired 2,000 shares of the stock in a transaction dated 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 purchase, the chief operating officer directly owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were bought 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 directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by 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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