Expand Energy Corporation $EXE Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Expand Energy Corporation by 52.0%, bringing its total ownership to 15,301 shares valued at approximately $1.81 million as of its latest filing.
• Expand Energy recently reported an earnings per share (EPS) of $1.10, falling short of the consensus estimate of $1.14, while its revenue significantly exceeded expectations at $3.69 billion.
• The company announced a quarterly dividend of $0.575 per share, resulting in an annualized dividend of $2.30 and a yield of 2.2% with a high payout ratio of 589.74%.

Nordea Investment Management AB increased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 52.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,301 shares of the company's stock after buying an additional 5,234 shares during the quarter. Nordea Investment Management AB's holdings in Expand Energy were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. Uncommon Cents Investing LLC grew its stake in shares of Expand Energy by 6.0% during the second quarter. Uncommon Cents Investing LLC now owns 1,945 shares of the company's stock worth $227,000 after acquiring an additional 110 shares during the last quarter. Essex Savings Bank boosted its stake in Expand Energy by 5.3% in the 2nd quarter. Essex Savings Bank now owns 2,420 shares of the company's stock worth $283,000 after purchasing an additional 121 shares in the last quarter. Signaturefd LLC grew its position in Expand Energy by 5.6% during the 2nd quarter. Signaturefd LLC now owns 2,530 shares of the company's stock worth $296,000 after purchasing an additional 134 shares during the last quarter. US Bancorp DE increased its stake in Expand Energy by 1.0% during the 2nd quarter. US Bancorp DE now owns 16,866 shares of the company's stock valued at $1,972,000 after purchasing an additional 162 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Expand Energy by 125.9% in the second quarter. JFS Wealth Advisors LLC now owns 305 shares of the company's stock worth $36,000 after buying an additional 170 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Performance

NASDAQ EXE opened at $104.39 on Thursday. The firm has a market capitalization of $24.86 billion, a P/E ratio of 267.67 and a beta of 0.47. The stock has a 50-day simple moving average of $99.99 and a two-hundred day simple moving average of $105.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a fifty-two week low of $82.69 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its 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%. On average, equities analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's payout ratio is 589.74%.

Insider Buying and Selling at Expand Energy

In other news, COO Joshua J. Viets purchased 2,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the acquisition, the chief operating officer owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. This represents a 3.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares of the company's stock, 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. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

EXE has been the topic of a number of research analyst reports. Mizuho set a $136.00 price objective on shares of Expand Energy in a report on Monday, September 15th. The Goldman Sachs Group lowered their price target on Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. William Blair started coverage on Expand Energy in a report on Tuesday, October 14th. They issued an "outperform" rating on the stock. Piper Sandler reduced their price objective on Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, UBS Group dropped their target price on Expand Energy from $132.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Expand Energy has an average rating of "Moderate Buy" and an average price target of $127.62.

About Expand Energy

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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