NewEdge Advisors LLC Purchases New Shares in Expand Energy Corporation $EXE

Key Points

• NewEdge Advisors LLC purchased 13,453 shares of Expand Energy Corporation, valued at approximately $1.5 million, in the 1st quarter, highlighting growing institutional interest in the company.
• COO and CEO of Expand Energy both made significant personal stock purchases, indicating strong insider confidence; the COO bought 2,000 shares at $92.16 each, while the CEO purchased 2,500 shares at $95.86 each.
• Recent analyst ratings show a mixed sentiment towards the stock with Roth Capital downgrading it from "buy" to "neutral," while Barclays raised its price target and maintained an "overweight" rating.

NewEdge Advisors LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,453 shares of the company's stock, valued at approximately $1,498,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at $27,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy in the 1st quarter valued at $28,000. Quarry LP acquired a new stake in shares of Expand Energy in the 1st quarter valued at $28,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $29,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Expand Energy

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

Analyst Ratings Changes

EXE has been the topic of several recent research reports. Roth Capital lowered Expand Energy from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $125.00 to $98.00 in a research report on Monday, August 18th. Barclays raised their price target on Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Tudor Pickering & Holt reduced their price target on Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. Wolfe Research reduced their price target on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Finally, KeyCorp reduced their price target on Expand Energy from $135.00 to $127.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Two investment 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 company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $127.69.

Expand Energy Stock Up 0.4%

EXE stock opened at $96.22 on Friday. 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 price of $99.47 and a two-hundred day moving average price of $106.00. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 246.72 and a beta of 0.46. Expand Energy Corporation has a twelve month low of $72.35 and a twelve month high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion during 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%. Analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is presently 589.74%.

Expand Energy 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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