48,458 Shares in Expand Energy Corporation $EXE Acquired by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. invested approximately $5.39 million in Expand Energy Corporation by acquiring 48,458 shares in the first quarter.
• Expand Energy has a consensus rating of "Buy" from analysts, with a target price averaging $127.42, following several upgrades and downgrades from various financial institutions.
• The company declared a quarterly dividend of $0.575, which will be paid on September 4th, representing an annualized yield of 2.4% despite a high dividend payout ratio.

Corebridge Financial Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 48,458 shares of the company's stock, valued at approximately $5,394,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXE. Comerica Bank bought a new position in shares of Expand Energy in the 1st quarter valued at $4,746,000. MetLife Investment Management LLC bought a new position in shares of Expand Energy in the 1st quarter valued at $6,121,000. Oak Harvest Investment Services bought a new position in Expand Energy in the 1st quarter valued at approximately $280,000. Campbell & CO Investment Adviser LLC acquired a new stake in Expand Energy during the 1st quarter worth approximately $1,246,000. Finally, Quantitative Investment Management LLC acquired a new stake in Expand Energy during the 1st quarter worth approximately $332,000. Institutional investors own 97.93% of the company's stock.

Wall Street Analyst Weigh In

EXE has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Bernstein Bank decreased their price objective on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Capital One Financial lowered their target price on Expand Energy from $105.00 to $101.00 in a research report on Thursday, July 3rd. The Goldman Sachs Group decreased their price objective on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Finally, Scotiabank reissued an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Expand Energy presently has a consensus rating of "Buy" and a consensus price target of $127.12.

Expand Energy Stock Down 0.9%

Shares of Expand Energy stock traded down $0.88 during trading hours on Thursday, reaching $96.20. The company's stock had a trading volume of 1,404,398 shares, compared to its average volume of 3,698,310. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The company has a market capitalization of $22.91 billion, a P/E ratio of 246.57 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The stock's fifty day simple moving average is $101.91 and its two-hundred day simple moving average is $106.46.

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

Expand Energy Dividend Announcement

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

Insider Activity at Expand Energy

In other Expand Energy news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the business's stock in a transaction on Friday, August 15th. The shares were acquired at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the transaction, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Joshua J. Viets bought 2,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the transaction, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company's stock.

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.