Easterly Investment Partners LLC Sells 29,546 Shares of Expand Energy Corporation $EXE

Key Points

• Easterly Investment Partners LLC reduced its holdings in Expand Energy Corporation (NASDAQ:EXE) by 42.9%, selling 29,546 shares, which leaves them with 39,325 shares valued at approximately $4.6 million.
• Multiple institutional investors acquired new stakes in Expand Energy during the first quarter, contributing to a high institutional ownership of 97.93%.
• Analysts have set a consensus target price of $127.62 for Expand Energy, with a majority rating the stock as a Moderate Buy.

Easterly Investment Partners LLC lowered its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 42.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,325 shares of the company's stock after selling 29,546 shares during the period. Easterly Investment Partners LLC's holdings in Expand Energy were worth $4,599,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in shares of Expand Energy during the 1st quarter valued at about $27,000. Transamerica Financial Advisors LLC purchased a new stake in Expand Energy during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. purchased a new stake in Expand Energy during the first quarter valued at approximately $28,000. Quarry LP bought a new position in Expand Energy in the first quarter worth approximately $28,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Expand Energy during the 1st quarter worth $29,000. Institutional investors own 97.93% of the company's stock.

Analysts Set New Price Targets

EXE has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Expand Energy from $139.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday. Jefferies Financial Group lowered their price objective on Expand Energy from $141.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, October 3rd. Siebert Williams Shank reduced their target price on shares of Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Mizuho set a $136.00 price target on shares of Expand Energy in a research report on Monday, September 15th. Finally, Tudor Pickering & Holt lowered their target price on shares of Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Expand Energy presently has an average rating of "Moderate Buy" and a consensus target price of $127.62.

Expand Energy Price Performance

NASDAQ:EXE opened at $98.59 on Friday. The business's 50-day moving average is $99.42 and its 200 day moving average is $105.89. Expand Energy Corporation has a 12 month low of $82.69 and a 12 month high of $123.35. The company has a market capitalization of $23.48 billion, a P/E ratio of 252.80 and a beta of 0.47. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.09 billion. On average, equities research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

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

Insider Buying and Selling

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

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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