Ceredex Value Advisors LLC Takes $61.25 Million Position in Expand Energy Corporation $EXE

Key Points

• Ceredex Value Advisors LLC has invested approximately $61.25 million in Expand Energy Corporation, acquiring 550,196 shares during the first quarter of the year.
• Expand Energy reported a 12-month stock price range with a low of $69.12 and a high of $123.35, and has a market capitalization of $22.53 billion.
• The company declared a quarterly dividend of $0.575 per share, resulting in a 2.4% yield, set to be paid on September 4th.

Ceredex Value Advisors LLC purchased a new stake 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 purchased 550,196 shares of the company's stock, valued at approximately $61,248,000. Expand Energy comprises about 1.3% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 16th biggest position. Ceredex Value Advisors LLC owned 0.23% of Expand Energy as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Expand Energy in the first quarter valued at $3,757,000. Wealth Enhancement Advisory Services LLC bought a new stake in Expand Energy in the first quarter valued at $1,179,000. Wedbush Securities Inc. bought a new stake in Expand Energy in the first quarter valued at $210,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Expand Energy in the 1st quarter worth approximately $1,383,000. Finally, Bessemer Group Inc. purchased a new position in shares of Expand Energy in the 1st quarter worth about $75,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Trading Down 0.5%

NASDAQ EXE traded down $0.46 on Friday, reaching $96.78. 1,493,936 shares of the company were exchanged, compared to its average volume of 3,722,899. The business's fifty day moving average price is $103.33 and its 200 day moving average price is $106.61. The stock has a market capitalization of $23.05 billion, a P/E ratio of 248.16 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company 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%. Analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued 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 payout ratio is 589.74%.

Insider Transactions at Expand Energy

In other Expand Energy news, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost 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 $5,684,060.16. This represents a 3.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the acquisition, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. The trade was a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXE has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Tudor Pickering & Holt dropped their price target on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Piper Sandler dropped their price target on Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. UBS Group lowered their target price on Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Finally, KeyCorp set a $135.00 target price on Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. Two 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 stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $127.42.

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.