Cresset Asset Management LLC Buys Shares of 21,701 Expand Energy Corporation $EXE

Key Points

• Cresset Asset Management LLC acquired 21,701 shares of Expand Energy Corporation, valued at approximately $2,416,000, in the first quarter.
• Insider transactions included COO Joshua J. Viets purchasing 2,000 shares and CEO Domenic J. Dell'osso, Jr. acquiring 2,500 shares, both reflecting significant increases in their ownership stakes.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, with an annualized yield of 2.5% and a notably high payout ratio of 589.74%.

Cresset Asset Management LLC acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,701 shares of the company's stock, valued at approximately $2,416,000.

Several other large investors have also recently modified their holdings of EXE. Vanguard Group Inc. bought a new position in shares of Expand Energy during the first quarter valued at $2,973,033,000. Massachusetts Financial Services Co. MA bought a new position in shares of Expand Energy during the first quarter valued at $518,328,000. Invesco Ltd. bought a new position in shares of Expand Energy during the first quarter valued at $433,431,000. AGF Management Ltd. bought a new position in shares of Expand Energy during the first quarter valued at $404,511,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Expand Energy during the first quarter valued at $380,171,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Stock Down 0.8%

EXE traded down $0.79 during midday trading on Friday, hitting $94.66. The company had a trading volume of 3,435,769 shares, compared to its average volume of 3,554,541. 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 stock's 50 day moving average price is $105.76 and its 200 day moving average price is $106.92. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 242.72 and a beta of 0.46. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week 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%. On average, research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal 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 given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's payout ratio is presently 589.74%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EXE shares. KeyCorp set a $135.00 target price on shares of Expand Energy and gave the stock an "overweight" rating in a research note on Friday, June 13th. Bernstein Bank lowered their target price on shares of Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. The Goldman Sachs Group lowered their target price on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Wells Fargo & Company lowered their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Scotiabank reissued an "outperform" rating on shares of Expand Energy in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Expand Energy currently has an average rating of "Buy" and an average price target of $127.42.

Insider Activity

In other news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of Expand Energy stock in a transaction on Friday, August 15th. The stock was acquired at an average cost of $95.86 per share, with a total value of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joshua J. Viets acquired 2,000 shares of Expand Energy stock in a transaction on Monday, August 18th. The stock was purchased 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 directly owned 61,676 shares in the company, valued at $5,684,060.16. This represents a 3.35% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

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.