Charles Schwab Investment Management Inc. Purchases Shares of 2,014,921 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Charles Schwab Investment Management Inc. acquired a significant position in Expand Energy Corporation, purchasing over 2 million shares valued at approximately $224.30 million, representing about 0.85% ownership.
• Several institutional investors have also increased their stakes in Expand Energy, contributing to a total of 97.93% of the stock owned by institutional investors and hedge funds.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, with an annualized dividend yield of 2.3%, highlighting its ongoing commitment to returning value to shareholders.

Charles Schwab Investment Management Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,014,921 shares of the company's stock, valued at approximately $224,301,000. Charles Schwab Investment Management Inc. owned approximately 0.85% of Expand Energy at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. bought a new stake in Expand Energy in the 1st quarter valued at about $28,000. Cheviot Value Management LLC bought a new stake in shares of Expand Energy during the first quarter valued at about $29,000. Princeton Global Asset Management LLC bought a new stake in shares of Expand Energy during the first quarter valued at about $31,000. Finally, BankPlus Trust Department bought a new stake in shares of Expand Energy during the first quarter valued at about $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXE. KeyCorp set a $135.00 price objective on Expand Energy and gave the stock an "overweight" rating in a report on Friday, June 13th. Scotiabank boosted their price objective on Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Morgan Stanley upped their target price on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Stephens decreased their target price on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Tudor Pickering & Holt decreased their target price on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Expand Energy has a consensus rating of "Buy" and a consensus price target of $128.92.

Expand Energy Trading Down 2.1%

Shares of EXE stock traded down $2.07 on Tuesday, reaching $95.89. 2,858,051 shares of the stock were exchanged, compared to its average volume of 3,613,426. Expand Energy Corporation has a 1-year low of $69.12 and a 1-year high of $123.35. The stock has a market cap of $22.84 billion, a P/E ratio of 25.58 and a beta of 0.46. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $109.03 and a two-hundred day moving average of $107.38.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share 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 business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. On average, research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

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

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.