Korea Investment CORP Invests $19.17 Million in Expand Energy Corporation $EXE

Key Points

• Korea Investment CORP invested approximately $19.17 million in Expand Energy Corporation by acquiring 172,174 shares, representing about 0.07% of the company.
• Expand Energy announced a quarterly dividend of $0.575 per share, with an annualized dividend yield of 2.4% and a payout ratio of 589.74%.
• Despite reporting a quarterly EPS of $1.10, which fell short of expectations, Expand Energy's revenue exceeded analyst predictions at $3.69 billion for the quarter.

Korea Investment CORP acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 172,174 shares of the company's stock, valued at approximately $19,166,000. Korea Investment CORP owned approximately 0.07% of Expand Energy as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in EXE. Harbour Investments Inc. acquired a new position in shares of Expand Energy during the 1st quarter worth about $27,000. First Horizon Advisors Inc. purchased a new stake in shares of Expand Energy in the 1st quarter valued at about $28,000. Cheviot Value Management LLC purchased a new stake in shares of Expand Energy in the 1st quarter valued at about $29,000. Pinney & Scofield Inc. purchased a new stake in shares of Expand Energy in the 1st quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Expand Energy in the 1st quarter valued at about $31,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXE has been the subject of several research reports. Scotiabank reissued an "outperform" rating on shares of Expand Energy in a report on Wednesday, August 13th. The Goldman Sachs Group reduced their target price on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Wells Fargo & Company reduced their target price on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Bernstein Bank reduced their price objective on Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Finally, Roth Capital downgraded Expand Energy from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $125.00 to $98.00 in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $127.42.

Expand Energy Stock Up 1.0%

EXE opened at $94.00 on Thursday. The business has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $107.02. 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 company has a market cap of $22.39 billion, a PE ratio of 241.03 and a beta of 0.46. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. As a group, research analysts anticipate 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 will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio is 589.74%.

Insider Buying and Selling

In other Expand Energy news, COO Joshua J. Viets bought 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $92.16 per share, with a total value of $184,320.00. Following the purchase, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This represents a 3.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the business's 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 completion of the purchase, the chief executive officer owned 166,715 shares in the company, valued at approximately $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 0.19% 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.

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