Norden Group LLC Purchases 3,181 Shares of Expand Energy Corporation $EXE

Key Points

• Norden Group LLC increased its holdings in Expand Energy Corporation by 133.8%, acquiring an additional 3,181 shares, bringing its total to 5,558 shares valued at approximately $650,000.
• The company recently reported earnings per share of $1.10 for the last quarter, missing estimates, but did achieve revenues of $3.69 billion, exceeding expectations.
• Expand Energy announced a quarterly dividend of $0.575 per share, with an annualized yield of 2.2%, and a high dividend payout ratio of 589.74%.

Norden Group LLC boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 133.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,558 shares of the company's stock after acquiring an additional 3,181 shares during the period. Norden Group LLC's holdings in Expand Energy were worth $650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXE. Vanguard Group Inc. bought a new stake in Expand Energy during the 1st quarter worth approximately $2,973,033,000. Price T Rowe Associates Inc. MD bought a new stake in Expand Energy during the 1st quarter worth approximately $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Expand Energy during the first quarter valued at approximately $701,831,000. Wellington Management Group LLP bought a new stake in shares of Expand Energy during the first quarter valued at approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Expand Energy during the first quarter valued at approximately $518,328,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Trading Up 1.2%

EXE stock opened at $104.38 on Friday. The firm has a fifty day moving average price of $98.10 and a 200 day moving average price of $106.04. Expand Energy Corporation has a fifty-two week low of $77.41 and a fifty-two 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 firm has a market cap of $24.86 billion, a PE ratio of 267.65 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its 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). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The business had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $2.09 billion. Sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.2%. Expand Energy's dividend payout ratio (DPR) is 589.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EXE. Scotiabank reiterated an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Barclays lifted their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $150.00 price objective (up previously from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. Wolfe Research reduced their price objective on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Finally, Siebert Williams Shank reduced their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Two research 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's stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of "Buy" and an average price target of $127.46.

Insider Buying and Selling at Expand Energy

In other news, COO Joshua J. Viets acquired 2,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $92.16 per share, with a total value 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 $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the company's stock in a transaction on Friday, August 15th. The shares were purchased 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 directly owned 166,715 shares of the company's stock, valued at $15,981,299.90. This trade represents 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 owned by insiders.

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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