Counterpoint Mutual Funds LLC Buys Shares of 18,732 Expand Energy Corporation $EXE

Key Points

• Counterpoint Mutual Funds LLC has acquired 18,732 shares of Expand Energy Corporation (NASDAQ:EXE), amounting to approximately $2.2 million during the second quarter.
• CEO Domenic J. Dell'osso, Jr. and COO Joshua J. Viets have both increased their holdings in the company, showcasing insider confidence amid an overall institutional ownership of 97.93%.
• Expand Energy recently announced a dividend of $0.575 per share, resulting in a dividend yield of 2.3%, with a payout ratio of 589.74%.

Counterpoint Mutual Funds LLC purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,732 shares of the company's stock, valued at approximately $2,191,000.

A number of other hedge funds also recently modified their holdings of the business. Essex Savings Bank lifted its holdings in shares of Expand Energy by 5.3% during the second quarter. Essex Savings Bank now owns 2,420 shares of the company's stock worth $283,000 after purchasing an additional 121 shares during the period. Transamerica Financial Advisors LLC acquired a new position in shares of Expand Energy during the first quarter worth $27,000. Harbour Investments Inc. acquired a new position in shares of Expand Energy during the first quarter worth $27,000. First Horizon Advisors Inc. acquired a new position in shares of Expand Energy during the first quarter worth $28,000. Finally, Quarry LP acquired a new position in shares of Expand Energy during the first quarter worth $28,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Insider Activity

In other Expand Energy news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the transaction, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed 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 of the company's stock, valued at $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.

Expand Energy Trading Down 0.2%

NASDAQ:EXE opened at $98.26 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50-day moving average of $98.42 and a 200-day moving average of $106.06. The company has a market cap of $23.40 billion, a PE ratio of 251.96 and a beta of 0.46. Expand Energy Corporation has a one year low of $77.41 and a one year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, equities research analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's payout ratio is presently 589.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EXE shares. KeyCorp cut their price target on shares of Expand Energy from $135.00 to $127.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Mizuho set a $136.00 price target on shares of Expand Energy in a report on Monday, September 15th. Bernstein Bank cut their price target on shares of Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Piper Sandler cut their price target on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Finally, Wells Fargo & Company dropped their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $127.46.

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.

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