IronOak Wealth LLC. Takes $1.20 Million Position in Expand Energy Corporation $EXE

Key Points

• IronOak Wealth LLC has acquired a new position in Expand Energy Corporation, purchasing 10,259 shares valued at approximately $1.2 million.
• CEO Domenic J. Dell'osso, Jr. and COO Joshua J. Viets recently increased their holdings in the company, with Dell'osso purchasing 2,500 shares and Viets buying 2,000 shares.
• Analysts have adjusted their price targets for Expand Energy, with KeyCorp lowering its target from $135 to $127, while maintaining an "overweight" rating for the stock.

IronOak Wealth LLC. bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,259 shares of the company's stock, valued at approximately $1,200,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC increased its position in Expand Energy by 24.1% in the 2nd quarter. GAMMA Investing LLC now owns 3,657 shares of the company's stock valued at $428,000 after buying an additional 711 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of Expand Energy by 162.2% during the second quarter. Toth Financial Advisory Corp now owns 9,440 shares of the company's stock worth $1,104,000 after acquiring an additional 5,840 shares in the last quarter. Adirondack Trust Co. acquired a new stake in shares of Expand Energy in the 2nd quarter worth about $58,000. Viking Fund Management LLC acquired a new position in Expand Energy during the 2nd quarter valued at about $1,169,000. Finally, Essex Savings Bank increased its holdings in Expand Energy by 5.3% during 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. 97.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXE has been the topic of several recent analyst reports. Capital One Financial dropped their price objective on Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Scotiabank reaffirmed an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Roth Capital lowered shares of Expand Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $125.00 to $98.00 in a research report on Monday, August 18th. Wolfe Research cut their price target on shares of Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Finally, Tudor Pickering & Holt dropped their price target on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $127.46.

Expand Energy Stock Performance

EXE traded down $0.24 during midday trading on Monday, reaching $98.26. The company had a trading volume of 3,760,846 shares, compared to its average volume of 3,078,433. 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 business has a 50-day moving average of $98.42 and a two-hundred day moving average of $106.06. The company has a market cap of $23.40 billion, a P/E ratio of 251.96 and a beta of 0.46. Expand Energy Corporation has a 1 year low of $77.41 and a 1 year 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 analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. As a group, equities research analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently disclosed 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 2.3%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio is currently 589.74%.

Insider Activity

In related news, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the firm's stock in a transaction on Friday, August 15th. The stock was purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the acquisition, the chief executive officer directly owned 166,715 shares in the company, valued at $15,981,299.90. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company's stock.

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.