Alaska Permanent Fund Corp Purchases Shares of 33,432 Expand Energy Corporation $EXE

Key Points

• Alaska Permanent Fund Corp has acquired a new stake in Expand Energy Corporation, purchasing 33,432 shares valued at approximately $3.47 million, according to a recent SEC filing.
• Institutional investors and hedge funds now own 97.93% of Expand Energy's stock, reflecting significant confidence in the company from large investors.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, yielding 2.4%, with a dividend payout ratio of 589.74%.

Alaska Permanent Fund Corp acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 33,432 shares of the company's stock, valued at approximately $3,474,000.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. bought a new position in Expand Energy during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy during the 1st quarter valued at $28,000. Pinney & Scofield Inc. purchased a new position in shares of Expand Energy in the 1st quarter worth $29,000. Cheviot Value Management LLC bought a new stake in shares of Expand Energy in the first quarter worth $29,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Expand Energy during the first quarter valued at $31,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EXE shares. Siebert Williams Shank dropped their target price on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Mizuho increased their price objective on shares of Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Morgan Stanley upped their target price on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, UBS Group decreased their price target on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Wednesday. Two equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $127.42.

Insider Activity

In related news, COO Joshua J. Viets acquired 2,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $92.16 per share, with a total value of $184,320.00. Following the acquisition, the chief operating officer directly 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 filing with the SEC, which is available through this link. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average price of $95.86 per share, with a total value 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. Company insiders own 0.19% of the company's stock.

Expand Energy Price Performance

Shares of NASDAQ EXE traded down $0.79 during midday trading on Friday, reaching $94.66. The stock had a trading volume of 3,435,769 shares, compared to its average volume of 3,554,541. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 242.72 and a beta of 0.46. Expand Energy Corporation has a 12-month low of $69.12 and a 12-month high of $123.35. The stock has a 50-day moving average of $105.76 and a 200-day moving average of $106.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results 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 net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. As a group, research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy's dividend 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.