Caxton Associates LLP Makes New Investment in Expand Energy Corporation $EXE

Key Points

• Caxton Associates LLP invested approximately $2.37 million by purchasing 21,312 shares in Expand Energy Corporation during the first quarter of 2023.
• Expand Energy has a market capitalization of $22.51 billion, with a current stock price of $94.52 and a consensus rating of "Buy" with an average price target of $127.12.
• The company recently declared a quarterly dividend of $0.575 per share, representing an annualized yield of 2.4%, although it has a very high payout ratio of 589.74%.

Caxton Associates LLP bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 21,312 shares of the company's stock, valued at approximately $2,372,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC bought a new position in shares of Expand Energy in the 1st quarter worth about $27,000. Harbour Investments Inc. bought a new position in shares of Expand Energy in the 1st quarter worth about $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy in the 1st quarter worth about $28,000. Quarry LP bought a new position in shares of Expand Energy in the 1st quarter worth about $28,000. Finally, Pinney & Scofield Inc. bought a new position in shares of Expand Energy in the 1st quarter worth about $29,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXE has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Wolfe Research lowered their price objective on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Scotiabank reissued an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Morgan Stanley lifted their price objective on Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Siebert Williams Shank reduced their target price on Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $127.12.

Expand Energy Stock Performance

Shares of EXE opened at $94.52 on Tuesday. 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 50-day moving average of $100.55 and a 200-day moving average of $106.25. The company has a market cap of $22.51 billion, a PE ratio of 242.37 and a beta of 0.46. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its 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). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. On average, equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

Insider Transactions at Expand Energy

In related news, COO Joshua J. Viets purchased 2,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the business'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 purchase, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Expand Energy 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.

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