Beacon Pointe Advisors LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,382 shares of the company's stock, valued at approximately $947,000.
A number of other institutional investors have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Expand Energy during the 2nd quarter valued at about $155,000. Rakuten Investment Management Inc. purchased a new stake in shares of Expand Energy during the second quarter valued at approximately $3,431,000. Empowered Funds LLC bought a new stake in shares of Expand Energy during the second quarter valued at approximately $31,089,000. United Capital Financial Advisors LLC bought a new stake in shares of Expand Energy during the second quarter valued at approximately $225,000. Finally, Caitlin John LLC purchased a new position in Expand Energy in the 2nd quarter worth approximately $67,000. 97.93% of the stock is owned by hedge funds and other institutional investors.
Expand Energy Stock Performance
EXE stock opened at $98.16 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. The company has a market cap of $22.72 billion, a P/E ratio of 8.48 and a beta of 0.34. The stock's fifty day moving average price is $92.04 and its 200-day moving average price is $97.08.
Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.20. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. On average, equities analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current year.
Expand Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy's dividend payout ratio is currently 19.86%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on EXE. Weiss Ratings cut Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Citigroup reduced their target price on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Johnson Rice cut Expand Energy from a "buy" rating to an "accumulate" rating and decreased their price target for the stock from $135.00 to $125.00 in a research note on Monday, August 17th. Morgan Stanley lowered their price target on Expand Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a report on Wednesday, August 19th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $114.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Expand Energy currently has an average rating of "Moderate Buy" and an average price target of $126.89.
Check Out Our Latest Report on EXE
Insiders Place Their Bets
In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.
Expand Energy Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).
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