Allstate Corp Makes New Investment in Expand Energy Corporation $EXE

Key Points

• Allstate Corp has invested approximately $917,000 in Expand Energy Corporation by acquiring 8,234 shares during the first quarter of the year.
• Expand Energy announced a quarterly dividend of $0.575 per share, set to be paid on September 4th, representing an annualized yield of 2.4%.
• Analysts have set an average price target of $127.42 for Expand Energy's shares, with a consensus rating of "Buy" from the majority of brokerages.

Allstate Corp bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,234 shares of the company's stock, valued at approximately $917,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Glendon Capital Management LP acquired a new stake in Expand Energy during the 1st quarter worth $237,256,000. Compound Planning Inc. acquired a new position in shares of Expand Energy during the 1st quarter valued at about $340,000. Ameriprise Financial Inc. acquired a new position in shares of Expand Energy during the 1st quarter valued at about $134,183,000. Norinchukin Bank The acquired a new position in shares of Expand Energy during the 1st quarter valued at about $900,000. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Expand Energy during the 1st quarter valued at about $3,474,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Trading Down 0.8%

NASDAQ EXE opened at $94.66 on Monday. The firm's 50-day moving average is $105.76 and its two-hundred day moving average is $106.94. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month 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 stock has a market capitalization of $22.54 billion, a P/E ratio of 242.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $2.09 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given 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 yield of 2.4%. Expand Energy's dividend payout ratio is presently 589.74%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXE. Barclays boosted their price target on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. KeyCorp set a $135.00 price target on shares of Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. UBS Group lowered 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, August 20th. The Goldman Sachs Group lowered their price target on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Finally, Siebert Williams Shank lowered their price target on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $127.42.

Insider Transactions at Expand Energy

In related news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 166,715 shares of the company's stock, valued at $15,981,299.90. This represents a 1.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joshua J. Viets bought 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, for a total transaction of $184,320.00. Following the transaction, the chief operating officer directly 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 disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company's stock.

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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