Empowered Funds LLC Purchases Shares of 340,931 Expand Energy Corporation $EXE

Key Points

• Empowered Funds LLC acquired 340,931 shares of Expand Energy in the second quarter, valued at approximately $31.1 million and representing about 0.15% of the company. Institutional investors collectively own 97.93% of the stock.
• Expand Energy reported quarterly earnings of $1.33 per share, exceeding analyst expectations of $1.13, while revenue of $2.96 billion fell short of the $3.05 billion consensus estimate.
• Shares recently traded at $98.00, up 1.5%, and the company declared a quarterly dividend of $0.575 per share, equating to a 2.3% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $126.89.

Empowered Funds LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 340,931 shares of the company's stock, valued at approximately $31,089,000. Empowered Funds LLC owned about 0.15% of Expand Energy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Atlantic Union Bankshares Corp raised its position in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the period. Eastern Bank acquired a new position in shares of Expand Energy in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. boosted its position in shares of Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Expand Energy in the 4th quarter worth about $30,000. Finally, Ascentis Independent Advisors purchased a new position in Expand Energy in the 1st quarter worth about $32,000. 97.93% of the stock is owned by institutional investors.

Expand Energy Trading Up 1.5%

Shares of NASDAQ EXE opened at $98.00 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The business has a 50-day moving average price of $91.62 and a two-hundred day moving average price of $97.14. The firm has a market capitalization of $22.69 billion, a PE ratio of 8.46 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, August 13th. Expand Energy's dividend payout ratio is currently 19.86%.

Insiders Place Their Bets

In related news, CEO Michael Wichterich bought 1,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was bought at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday. Johnson Rice lowered shares of Expand Energy from a "buy" rating to an "accumulate" rating and cut their price target for the company from $135.00 to $125.00 in a report on Monday, August 17th. Citigroup reduced their price target on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. UBS Group decreased their price objective on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $126.89.

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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