New Wave Wealth Advisors LLC Buys Shares of 4,066 Expand Energy Corporation $EXE

Key Points

• New Wave Wealth Advisors LLC has acquired 4,066 shares of Expand Energy Corporation (NASDAQ: EXE) valued at approximately $475,000, further indicating growing interest in the company from institutional investors.
• Expand Energy reported a missed earnings per share of $1.10, missing expectations by $0.04, despite recording revenues of $3.69 billion for the quarter.
• The company recently declared a quarterly dividend of $0.575, leading to an annualized dividend yield of 2.1%, although it has a high payout ratio of 589.74%.

New Wave Wealth Advisors LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,066 shares of the company's stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC bought a new position in Expand Energy in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. bought a new position in Expand Energy in the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. bought a new position in Expand Energy in the 1st quarter valued at approximately $28,000. Quarry LP bought a new position in Expand Energy in the 1st quarter valued at approximately $28,000. Finally, Pinney & Scofield Inc. bought a new position in Expand Energy in the 1st quarter valued at approximately $29,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Stock Up 2.8%

Shares of NASDAQ EXE opened at $109.18 on Thursday. The company has a market capitalization of $26.00 billion, a P/E ratio of 279.96 and a beta of 0.47. Expand Energy Corporation has a 52-week low of $81.66 and a 52-week high of $123.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The company's 50 day moving average price is $98.54 and its 200-day moving average price is $106.20.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Equities analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. Expand Energy's payout ratio is 589.74%.

Insider Buying and Selling

In other news, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the company's stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the transaction, the chief operating officer directly owned 61,676 shares in the company, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on EXE shares. Wolfe Research dropped their price objective on shares of Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Siebert Williams Shank decreased their price target on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Raymond James Financial restated a "strong-buy" rating and issued a $150.00 price target (up from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. KeyCorp decreased their price target on shares of Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Mizuho set a $136.00 price target on shares of Expand Energy in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price 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.

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