Corient Private Wealth LP Takes Position in Expand Energy Corporation $EXE

Key Points

• Corient Private Wealth LP acquired 14,540 shares of Expand Energy during the second quarter, valued at approximately $1.33 million. Institutional investors and hedge funds collectively own 97.93% of the company.
• Expand Energy’s latest quarterly results beat expectations, with adjusted EPS of $1.33 versus the $1.13 consensus estimate, while revenue came in at $2.96 billion. The company declared a quarterly dividend of $0.575 per share, equivalent to a 2.3% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $126.89, despite several recent target-price cuts. EXE shares opened at $97.91, with a market capitalization of $22.67 billion.

Corient Private Wealth LP acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,540 shares of the company's stock, valued at approximately $1,326,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EXE. Atlantic Union Bankshares Corp lifted its stake in shares of Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after acquiring an additional 100 shares during the period. Eastern Bank bought a new position in Expand Energy during the second quarter worth $27,000. SJS Investment Consulting Inc. grew its holdings in Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after purchasing an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Expand Energy in the fourth quarter worth $30,000. Finally, Ascentis Independent Advisors bought a new stake in Expand Energy in the first quarter valued at $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Trading Down 1.2%

Shares of EXE stock opened at $97.91 on Friday. The stock has a market capitalization of $22.67 billion, a P/E ratio of 8.46 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average is $92.88 and its 200 day moving average is $97.00. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Research analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 13th. Expand Energy's payout ratio is currently 19.86%.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EXE. Johnson Rice lowered Expand Energy from a "buy" rating to an "accumulate" rating and reduced their target price for the company from $135.00 to $125.00 in a report on Monday, August 17th. Weiss Ratings cut shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Wolfe Research restated an "outperform" rating and issued a $114.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Roth Capital reaffirmed a "neutral" rating and issued a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, Citigroup cut their price target on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Expand Energy presently has a consensus rating of "Moderate Buy" and an average price target of $126.89.

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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