Empowered Funds LLC Takes $7.59 Million Position in Expand Energy Corporation $EXE

Key Points

• Empowered Funds LLC has invested approximately $7.59 million in Expand Energy Corporation by acquiring 68,198 shares during the first quarter of the fiscal year.
• Expand Energy reported earnings per share of $1.10 for the last quarter, missing the consensus estimate of $1.14, though it generated revenues of $3.69 billion, exceeding expectations of $2.09 billion.
• The company recently declared a quarterly dividend of $0.575 per share, translating to an annual yield of 2.4%, despite a high dividend payout ratio of 589.74%.

Empowered Funds LLC acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68,198 shares of the company's stock, valued at approximately $7,592,000.

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

Insider Buying and Selling

In other Expand Energy news, COO Joshua J. Viets acquired 2,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the purchase, 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 ownership of the stock. The transaction 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 stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the acquisition, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. This represents 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EXE shares. Mizuho lifted their price objective on Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group lowered their price target on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Wells Fargo & Company cut their price objective on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Wolfe Research reduced their price objective on shares of Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $150.00 target price (up from $146.00) on shares of Expand Energy in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $127.69.

Expand Energy Trading Up 0.4%

Shares of EXE stock traded up $0.38 during trading hours on Friday, hitting $96.22. 1,692,944 shares of the company were exchanged, compared to its average volume of 2,769,963. The firm has a fifty day moving average of $99.47 and a 200 day moving average of $106.03. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a 1 year low of $72.35 and a 1 year high of $123.35. The firm has a market cap of $22.91 billion, a PE ratio of 246.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly 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 company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) 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.