Castleark Management LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 61,230 shares of the company's stock, valued at approximately $5,584,000.
Several other hedge funds also recently bought and sold shares of EXE. Nicholas Investment Partners LP bought a new position in shares of Expand Energy during the second quarter worth $3,739,000. SIR Capital Management L.P. bought a new stake in shares of Expand Energy in the 2nd quarter valued at $21,342,000. Legal & General Group Plc acquired a new stake in Expand Energy during the 2nd quarter worth $95,048,000. The Manufacturers Life Insurance Company acquired a new stake in Expand Energy during the 2nd quarter worth $22,424,000. Finally, Brigade Capital Management LP bought a new position in Expand Energy during the second quarter worth about $9,649,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.
Expand Energy Stock Down 1.7%
NASDAQ:EXE opened at $94.66 on Wednesday. The stock has a 50-day simple moving average of $91.22 and a 200 day simple moving average of $97.32. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The company has a market cap of $21.91 billion, a PE ratio of 8.17 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.
Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $3.05 billion. On average, sell-side analysts expect that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.
Expand Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy's payout ratio is currently 19.86%.
Insider Activity at Expand Energy
In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares of the company's stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
EXE has been the subject of several recent analyst reports. Citigroup lowered their price target on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Barclays decreased their price objective on Expand Energy from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Monday, August 17th. Johnson Rice cut Expand Energy from a "buy" rating to an "accumulate" rating and lowered their target price for the stock from $135.00 to $125.00 in a research note on Monday, August 17th. Wolfe Research restated an "outperform" rating and set a $114.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Finally, Benchmark cut their price target on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.
Get Our Latest Stock Analysis on EXE
About Expand Energy
(
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.
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