Ceredex Value Advisors LLC Makes New Investment in Expand Energy Corporation $EXE

Key Points

• Ceredex Value Advisors purchased 169,548 shares of Expand Energy worth approximately $15.5 million, while institutional investors collectively owned 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, beating analysts’ $1.13 estimate, although revenue of $2.96 billion fell short of the $3.05 billion consensus forecast.
• The company declared a quarterly dividend of $0.575 per share, equivalent to an annualized $2.30 payout and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $127.67.

Ceredex Value Advisors LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 169,548 shares of the company's stock, valued at approximately $15,461,000. Ceredex Value Advisors LLC owned 0.07% of Expand Energy at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sierra Summit Advisors LLC grew its stake in Expand Energy by 25.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock worth $8,523,000 after purchasing an additional 15,904 shares during the period. King Luther Capital Management Corp raised its holdings in Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company's stock worth $26,443,000 after buying an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after acquiring an additional 2,414,311 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Expand Energy during the fourth quarter valued at $57,153,000. Finally, Sei Investments Co. lifted its stake in Expand Energy by 86.9% during the 1st quarter. Sei Investments Co. now owns 251,984 shares of the company's stock valued at $27,663,000 after acquiring an additional 117,163 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Trading Up 0.0%

EXE opened at $96.07 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock's 50 day moving average price is $90.78 and its 200-day moving average price is $97.59. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping 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 business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts forecast that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy's payout ratio is 19.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark lowered their price target on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Morgan Stanley lowered their price target on shares of Expand Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a report on Wednesday. Wolfe Research reaffirmed an "outperform" rating and issued a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Finally, Citigroup cut their target price on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Two equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.67.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is 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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