Great Lakes Advisors LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• Great Lakes Advisors LLC acquired a new stake in Expand Energy Corporation (NASDAQ:EXE) worth approximately $27.9 million, purchasing 252,479 shares during the first quarter.
• Multiple institutional investors have shown interest in Expand Energy, with 97.93% of the company's stock owned by institutional investors and hedge funds.
• The company recently announced a quarterly dividend of $0.575 per share, resulting in an annualized yield of 2.4%, despite a high dividend payout ratio of 589.74%.

Great Lakes Advisors LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 252,479 shares of the company's stock, valued at approximately $27,927,000. Great Lakes Advisors LLC owned approximately 0.11% of Expand Energy at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Transamerica Financial Advisors LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at $27,000. Harbour Investments Inc. purchased a new stake in Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the 1st quarter valued at $28,000. Quarry LP purchased a new stake in Expand Energy in the 1st quarter valued at $28,000. Finally, Pinney & Scofield Inc. purchased a new stake in Expand Energy in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

EXE has been the subject of several research reports. Wells Fargo & Company reduced their price target 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 target on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. UBS Group reduced their price target on shares of Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Piper Sandler reduced their price target on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Finally, Morgan Stanley upped their price target on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $127.12.

Insiders Place Their Bets

In related news, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were acquired at an average cost of $95.86 per share, with a total value of $239,650.00. Following the purchase, the chief executive officer directly owned 166,715 shares in the company, valued at $15,981,299.90. This trade represents a 1.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of the stock in a transaction dated 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 owned 61,676 shares in the company, valued at approximately $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. Corporate insiders own 0.17% of the company's stock.

Expand Energy Stock Down 1.2%

Shares of Expand Energy stock opened at $95.51 on Monday. The company has a market cap of $22.75 billion, a P/E ratio of 244.90 and a beta of 0.46. 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 one year low of $69.12 and a one year high of $123.35. The firm has a fifty day moving average of $101.00 and a two-hundred day moving average of $106.32.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is 589.74%.

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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