Czech National Bank Increases Position in Expand Energy Corporation $EXE

Key Points

• The Czech National Bank increased its stake in Expand Energy Corporation by 9.6%, acquiring an additional 4,633 shares to reach a total of 52,935 shares valued at approximately $6.19 million.
• CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares at an average price of $95.86, increasing his ownership by 1.52%, while COO Joshua J. Viets bought 2,000 shares for $92.16 per share, reflecting a 3.35% increase in his holding.
• Despite a revenue of $3.69 billion in the most recent quarter, Expand Energy reported earnings of $1.10 per share, which was below analyst estimates of $1.14.

Czech National Bank increased its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,935 shares of the company's stock after acquiring an additional 4,633 shares during the period. Czech National Bank's holdings in Expand Energy were worth $6,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new stake in Expand Energy during the first quarter valued at about $27,000. Transamerica Financial Advisors LLC purchased a new stake in Expand Energy in the first quarter worth about $27,000. First Horizon Advisors Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $28,000. Quarry LP bought a new position in Expand Energy in the first quarter worth $28,000. Finally, Cheviot Value Management LLC bought a new stake in shares of Expand Energy during the 1st quarter valued at $29,000. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXE. Wolfe Research decreased their price target on shares of Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Scotiabank restated an "outperform" rating on shares of Expand Energy in a research note on Wednesday, August 13th. The Goldman Sachs Group reduced their price objective on Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Wells Fargo & Company dropped their price target on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, Morgan Stanley lifted their target price on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $127.46.

Insider Activity

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

Expand Energy Price Performance

Shares of EXE stock traded down $0.39 during trading hours on Friday, hitting $98.50. The stock had a trading volume of 11,903,263 shares, compared to its average volume of 2,655,056. Expand Energy Corporation has a one year low of $75.90 and a one year high of $123.35. 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 stock's 50-day moving average price is $98.64 and its two-hundred day moving average price is $105.98. The stock has a market capitalization of $23.46 billion, a price-to-earnings ratio of 252.57 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued 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 return on equity of 5.76% and a net margin of 2.41%.The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Equities analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

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

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.