BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Expand Energy Corporation $EXE

Key Points

• BI Asset Management Fondsmaeglerselskab A S has acquired a new stake in Expand Energy Corporation, purchasing 9,358 shares valued at approximately $1,042,000.
• Expand Energy reported quarterly earnings of $1.10 EPS, missing analysts' estimates of $1.14, but exceeding revenue expectations with $3.69 billion.
• The company declared a quarterly dividend of $0.575 per share, with a payout ratio of 589.74%, highlighting its commitment to returning value to shareholders.

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,358 shares of the company's stock, valued at approximately $1,042,000.

A number of other institutional investors also recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in shares of Expand Energy in the first quarter valued at about $36,421,000. HITE Hedge Asset Management LLC bought a new stake in shares of Expand Energy in the first quarter valued at about $52,049,000. Quantbot Technologies LP bought a new stake in Expand Energy during the first quarter worth about $11,401,000. Wellington Management Group LLP bought a new stake in Expand Energy during the first quarter worth about $624,083,000. Finally, Korea Investment CORP bought a new stake in Expand Energy during the first quarter worth about $19,166,000. Institutional investors own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EXE shares. Siebert Williams Shank cut their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Scotiabank reaffirmed an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Piper Sandler cut their price objective on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. KeyCorp set a $135.00 price objective on shares of Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Sanford C. Bernstein raised shares of Expand Energy to a "strong-buy" rating and set a $150.00 price objective for the company in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $127.42.

Expand Energy Trading Down 1.1%

Shares of Expand Energy stock traded down $1.02 on Wednesday, hitting $95.26. The stock had a trading volume of 1,824,282 shares, compared to its average volume of 3,740,000. The stock has a 50 day moving average of $104.81 and a 200 day moving average of $106.81. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $22.69 billion, a P/E ratio of 244.36 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.09 billion. Sell-side analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is currently 589.74%.

Insider Activity at Expand Energy

In other news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joshua J. Viets acquired 2,000 shares of the stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the purchase, the chief operating officer directly owned 61,676 shares of the company's stock, valued at $5,684,060.16. This trade represents 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.

Expand Energy Company 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.