Expand Energy Corporation $EXE Shares Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio increased its stake in Expand Energy Corporation by 18.8%, owning approximately 126,998 shares worth $14.85 million after purchasing an additional 20,095 shares.
• Expand Energy reported a quarterly EPS of $1.10, which missed the consensus estimate of $1.14, although it had a revenue of $3.69 billion, significantly exceeding expectations.
• The company declared a quarterly dividend of $0.575 per share, leading to an annualized yield of 2.2% and a dividend payout ratio of 589.74%.

Public Employees Retirement System of Ohio raised its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,998 shares of the company's stock after buying an additional 20,095 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of Expand Energy worth $14,851,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in Expand Energy in the first quarter valued at about $2,973,033,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Expand Energy during the first quarter worth about $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Expand Energy during the first quarter worth about $701,831,000. Wellington Management Group LLP acquired a new stake in shares of Expand Energy during the first quarter worth about $624,083,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Expand Energy during the first quarter worth about $518,328,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of Expand Energy stock opened at $105.77 on Friday. The firm has a market capitalization of $25.19 billion, a P/E ratio of 271.21 and a beta of 0.46. Expand Energy Corporation has a 52 week low of $80.72 and a 52 week high of $123.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm's 50 day moving average is $98.05 and its two-hundred day moving average is $106.08.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. Research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio is currently 589.74%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EXE shares. Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. The Goldman Sachs Group reduced their price target on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. UBS Group cut their target price on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Barclays upped their target price on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Mizuho set a $136.00 target price on shares of Expand Energy in a research note on Monday, September 15th. Two equities 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $127.46.

Insider Activity at Expand Energy

In related news, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were 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 of the company's stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the company's stock in a transaction on Friday, August 15th. The stock was bought at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares of the company's stock, valued at $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company's stock.

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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