Expand Energy Corporation $EXE Shares Sold by Woodstock Corp

Key Points

• Woodstock Corp reduced its holdings in Expand Energy Corporation by 5.5% during the second quarter, owning 47,936 shares valued at approximately $5.61 million after selling 2,785 shares.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, corresponding to an annualized yield of 2.4%, despite a high payout ratio of 589.74%.
• Analysts have downgraded Expand Energy from 'buy' to 'neutral' with several price target reductions, reflecting a cautious outlook with an average price target of $127.46.

Woodstock Corp cut its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,936 shares of the company's stock after selling 2,785 shares during the quarter. Woodstock Corp's holdings in Expand Energy were worth $5,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in Expand Energy in the first quarter valued at approximately $2,973,033,000. Price T Rowe Associates Inc. MD bought a new stake in Expand Energy in the first quarter worth about $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Expand Energy in the first quarter valued at approximately $701,831,000. Wellington Management Group LLP bought a new stake in Expand Energy during the 1st quarter worth approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Expand Energy in the 1st quarter worth approximately $518,328,000. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EXE shares. KeyCorp decreased their price target on shares of Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Scotiabank reiterated an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Wolfe Research cut their price objective on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Wells Fargo & Company lowered 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 note on Tuesday, July 15th. Finally, Siebert Williams Shank cut their price objective on shares of Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $127.46.

Expand Energy Stock Performance

Shares of NASDAQ:EXE traded down $0.39 during trading on Friday, reaching $98.50. The company had a trading volume of 11,903,263 shares, compared to its average volume of 2,655,056. The stock's fifty day moving average price is $98.64 and its 200 day moving average price is $105.95. Expand Energy Corporation has a fifty-two week low of $75.90 and a fifty-two week high of $123.35. The firm has a market capitalization of $23.46 billion, a price-to-earnings ratio of 252.57 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a return on equity of 5.76% and a net margin of 2.41%.The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. Expand Energy's payout ratio is 589.74%.

Insiders Place Their Bets

In other news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were acquired at an average price of $95.86 per share, with a total value of $239,650.00. Following the acquisition, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joshua J. Viets purchased 2,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer directly owned 61,676 shares in the company, valued at $5,684,060.16. This trade represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

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.