Algert Global LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• Algert Global LLC initiated a position in Expand Energy by purchasing 43,074 shares worth approximately $3.93 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy exceeded quarterly EPS expectations, reporting $1.33 versus the $1.13 consensus, although revenue of $2.96 billion fell short of estimates. The company also declared a $0.575 quarterly dividend, representing a 2.3% annualized yield.
• Analysts maintain a broadly positive outlook, with the stock rated “Moderate Buy” and a consensus price target of $126.89, compared with its recent opening price of $98.00.

Algert Global LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 43,074 shares of the company's stock, valued at approximately $3,928,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp grew its stake in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank acquired a new position in shares of Expand Energy in the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted its stake in shares of Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after buying an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Expand Energy during the 4th quarter valued at approximately $30,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Expand Energy during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

EXE stock opened at $98.00 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $22.69 billion, a P/E ratio of 8.46 and a beta of 0.34. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. The stock's 50 day simple moving average is $91.62 and its 200 day simple moving average is $97.14.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's payout ratio is 19.86%.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. The Goldman Sachs Group increased their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday. UBS Group dropped their target price on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Citigroup cut their target price on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Finally, Johnson Rice cut shares of Expand Energy from a "buy" rating to an "accumulate" rating and reduced their price target for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $126.89.

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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