Elevation Point Wealth Partners LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• Elevation Point Wealth Partners acquired 39,198 shares of Expand Energy in the second quarter, valued at approximately $3.57 million. Institutional investors and hedge funds collectively own 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, exceeding estimates of $1.13, while revenue of $2.96 billion fell short of the $3.05 billion consensus. Analysts maintain a “Moderate Buy” consensus with an average price target of $127.67.
• The company declared a quarterly dividend of $0.575 per share, or $2.30 annualized, representing a 2.4% yield and a 19.86% payout ratio.

Elevation Point Wealth Partners LLC acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 39,198 shares of the company's stock, valued at approximately $3,574,000.

Several other institutional investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH raised its position in Expand Energy by 6.8% in the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock worth $147,000 after purchasing an additional 88 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. McGowan Group Asset Management Inc. boosted its holdings in Expand Energy by 0.4% during the fourth quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock valued at $2,657,000 after purchasing an additional 105 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Expand Energy by 25.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company's stock valued at $61,000 after purchasing an additional 110 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Expand Energy by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company's stock valued at $286,000 after purchasing an additional 111 shares during the period. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Price Performance

NASDAQ:EXE opened at $96.09 on Friday. The firm has a market cap of $22.24 billion, a PE ratio of 8.30 and a beta of 0.34. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company's 50-day moving average price is $90.93 and its two-hundred day moving average price is $97.58.

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

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy's dividend payout ratio is 19.86%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. William Blair cut Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Wolfe Research reaffirmed an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Weiss Ratings cut Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Roth Capital reiterated a "neutral" rating and issued a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Finally, Truist Financial increased their price objective on Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by company insiders.

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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