Continuum Advisory LLC Takes $6.28 Million Position in Expand Energy Corporation $EXE

Key Points

• Continuum Advisory acquired 68,903 shares of Expand Energy during the second quarter, valued at approximately $6.28 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, beating estimates of $1.13, while revenue of $2.96 billion fell short of the $3.05 billion consensus estimate.
• The company declared a quarterly dividend of $0.575 per share, or $2.30 annually, implying a 2.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $126.89.

Continuum Advisory LLC acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 68,903 shares of the company's stock, valued at approximately $6,283,000.

Other large investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp raised its holdings in Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after acquiring an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Expand Energy during the 4th quarter worth approximately $30,000. Ascentis Independent Advisors purchased a new stake in shares of Expand Energy in the 1st quarter valued at approximately $32,000. Finally, Eastern Bank purchased a new stake in shares of Expand Energy in the 2nd quarter valued at approximately $27,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Performance

Shares of Expand Energy stock opened at $99.32 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62. The firm's 50 day moving average is $92.48 and its two-hundred day moving average is $97.03. The firm has a market capitalization of $22.99 billion, a P/E ratio of 8.58 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.46% and a return on equity of 10.33%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Research analysts forecast that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, August 13th. Expand Energy's dividend payout ratio (DPR) is currently 19.86%.

Insiders Place Their Bets

In related news, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Truist Financial increased their target price on Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Wolfe Research restated an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Benchmark cut their price target on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Finally, Morgan Stanley decreased their price target on Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Expand Energy currently has a consensus rating of "Moderate Buy" and an average price target of $126.89.

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.

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