K.J. Harrison & Partners Inc Invests $1.28 Million in Expand Energy Corporation $EXE

Key Points

• K.J. Harrison & Partners initiated a $1.28 million position in Expand Energy during the second quarter by purchasing 14,000 shares. Institutional investors and hedge funds collectively own 97.93% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $127.78, despite several recent target cuts and one downgrade.
• Expand Energy exceeded quarterly EPS expectations, reporting $1.33 versus the $1.13 consensus, and declared a quarterly dividend of $0.575, equivalent to a 2.4% annualized yield.

K.J. Harrison & Partners Inc bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,000 shares of the company's stock, valued at approximately $1,277,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Expand Energy during the 1st quarter worth $2,599,000. Ashton Thomas Private Wealth LLC purchased a new position in Expand Energy in the first quarter valued at $208,000. Focus Partners Wealth purchased a new position in Expand Energy in the first quarter valued at $205,000. Geneos Wealth Management Inc. acquired a new stake in Expand Energy in the first quarter valued at $79,000. Finally, Gamco Investors INC. ET AL acquired a new stake in Expand Energy in the second quarter valued at $757,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

EXE has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, July 9th. UBS Group cut their target price on Expand Energy from $127.00 to $124.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Roth Capital reaffirmed a "neutral" rating and issued a $93.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.78.

Expand Energy Stock Down 0.6%

EXE opened at $94.18 on Tuesday. The business's 50-day simple moving average is $90.32 and its 200-day simple moving average is $97.90. 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 Corporation has a one year low of $84.99 and a one year high of $126.62. The stock has a market capitalization of $21.80 billion, a P/E ratio of 8.13 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Analysts anticipate that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Announces Dividend

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

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.

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