AQR Capital Management LLC Invests $7.01 Million in Expand Energy Corporation $EXE

Key Points

• AQR Capital Management LLC has invested approximately $7.01 million in Expand Energy Corporation by purchasing 63,064 shares during the first quarter.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, reflecting an annual yield of 2.4%, although its dividend payout ratio stands at a high 589.74%.
• Despite a recent earnings miss, analysts maintain a consensus rating of "Buy" for Expand Energy, with a target price average of $127.69, alongside two analysts rating it as "Strong Buy."

AQR Capital Management LLC bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 63,064 shares of the company's stock, valued at approximately $7,014,000.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in Expand Energy during the first quarter worth $36,507,000. Parallel Advisors LLC bought a new position in Expand Energy during the first quarter worth $286,000. Doliver Advisors LP bought a new position in Expand Energy during the first quarter worth $446,000. Peoples Bank KS bought a new position in Expand Energy during the first quarter worth $33,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Expand Energy during the first quarter valued at about $466,000. Institutional investors own 97.93% of the company's stock.

Insider Transactions at Expand Energy

In other news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of Expand Energy stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 166,715 shares of the company's stock, valued at $15,981,299.90. This trade represents a 1.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Joshua J. Viets bought 2,000 shares of the stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company's stock.

Expand Energy Price Performance

EXE stock traded up $1.01 during mid-day trading on Tuesday, hitting $96.59. The company had a trading volume of 2,052,048 shares, compared to its average volume of 3,646,926. The company has a market capitalization of $23.00 billion, a price-to-earnings ratio of 247.66 and a beta of 0.46. Expand Energy Corporation has a 12-month low of $72.77 and a 12-month high of $123.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $99.20 and a 200 day moving average price of $106.06.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.09 billion. On average, research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, August 14th. Expand Energy's payout ratio is currently 589.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Piper Sandler cut their price target on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Sanford C. Bernstein raised shares of Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a research note on Thursday, May 22nd. Siebert Williams Shank cut their price objective on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Finally, Capital One Financial reduced their target price on Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $127.46.

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.