HighTower Advisors LLC Decreases Holdings in Expand Energy Corporation $EXE

Key Points

• HighTower Advisors reduced its Expand Energy position by 35% in the second quarter, selling 14,668 shares and retaining 27,193 shares valued at approximately $2.48 million. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $127.16, compared with the stock’s recent price of $94.83.
• Expand Energy exceeded quarterly EPS expectations, reporting $1.33 versus the $1.13 consensus estimate, while revenue came in at $2.96 billion. The company also pays a quarterly dividend of $0.575, representing a 2.4% annualized yield.

HighTower Advisors LLC lowered its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 35.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,193 shares of the company's stock after selling 14,668 shares during the period. HighTower Advisors LLC's holdings in Expand Energy were worth $2,480,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp raised its holdings in 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 last quarter. SJS Investment Consulting Inc. grew its holdings in Expand Energy by 379.6% in the first 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 last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Expand Energy in the fourth quarter valued at $30,000. Ascentis Independent Advisors purchased a new position in shares of Expand Energy in the first quarter valued at $32,000. Finally, Eastern Bank purchased a new position in shares of Expand Energy in the second quarter valued at $27,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EXE shares. Truist Financial lifted their price target on Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Citigroup lowered their price objective on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Freedom Broker upgraded shares of Expand Energy to a "strong-buy" rating in a report on Thursday, September 3rd. Benchmark cut their target price on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Finally, Johnson Rice downgraded shares of Expand Energy from a "buy" rating to an "accumulate" rating and reduced their price target for the company from $135.00 to $125.00 in a report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.16.

Expand Energy Stock Performance

Expand Energy stock opened at $94.83 on Friday. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 8.19 and a beta of 0.34. The stock has a fifty day moving average of $93.58 and a two-hundred day moving average of $96.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.20. The business 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%. On average, analysts anticipate that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's payout ratio is presently 19.86%.

Expand Energy Profile

Expand Energy Corporation NASDAQ: EXE is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company's operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.

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