Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Expand Energy Corporation $EXE

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Expand Energy Corporation by 157.8% during Q2, now holding shares worth $603,000 after acquiring an additional 3,156 shares.
• A recent analysis noted several research firms have adjusted their ratings on Expand Energy, with Roth Capital downgrading it from "buy" to "neutral" and changing the price target to $98.00.
• Expand Energy Corporation recently announced a quarterly dividend of $0.575, representing a 2.4% yield for shareholders, although its payout ratio stands at an exceptionally high 589.74%.

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 157.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,156 shares of the company's stock after purchasing an additional 3,156 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Expand Energy were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Harbour Investments Inc. bought a new stake in Expand Energy during the 1st quarter worth approximately $27,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of Expand Energy in the 1st quarter valued at approximately $28,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at approximately $29,000. 97.93% of the stock is owned by institutional investors.

Expand Energy Trading Down 0.4%

EXE traded down $0.39 during trading on Friday, hitting $98.50. The company's stock had a trading volume of 11,903,263 shares, compared to its average volume of 2,655,056. The firm has a market capitalization of $23.46 billion, a P/E ratio of 252.57 and a beta of 0.46. Expand Energy Corporation has a twelve month low of $75.90 and a twelve month high of $123.35. The stock's fifty day moving average price is $98.64 and its 200-day moving average price is $105.98. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last released 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). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. Analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is 589.74%.

Insider Buying and Selling

In related news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the stock in a transaction on Friday, August 15th. The stock was acquired at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer owned 166,715 shares of the company's stock, valued at $15,981,299.90. This represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joshua J. Viets bought 2,000 shares of Expand Energy stock in a transaction on 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 acquisition, 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 disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. KeyCorp cut their price target on Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Jefferies Financial Group set a $135.00 price target on Expand Energy and gave the company a "buy" rating in a report on Saturday, June 14th. Mizuho set a $136.00 price target on Expand Energy in a report on Monday, September 15th. Scotiabank reiterated an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Finally, Morgan Stanley raised their price objective on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research note 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. Based on data from MarketBeat.com, Expand Energy presently has a consensus rating of "Buy" and an average price target of $127.46.

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.