Oak Grove Capital LLC Acquires Shares of 4,038 Expand Energy Corporation $EXE

Key Points

• Oak Grove Capital LLC acquired 4,038 shares of Expand Energy Corporation, valued at approximately $450,000, in the first quarter of the year.
• Various hedge funds have also increased their holdings in Expand Energy, with a significant 97.93% of the company's stock owned by institutional investors.
• Expand Energy recently reported a quarterly EPS of $1.10, missing estimates, and announced a quarterly dividend of $0.575 per share, representing a 2.4% yield.

Oak Grove Capital LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,038 shares of the company's stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbour Investments Inc. purchased a new position in Expand Energy in the first quarter worth about $27,000. First Horizon Advisors Inc. purchased a new position in Expand Energy in the 1st quarter worth approximately $28,000. Pinney & Scofield Inc. purchased a new position in Expand Energy in the 1st quarter worth approximately $29,000. Cheviot Value Management LLC bought a new stake in Expand Energy in the 1st quarter worth approximately $29,000. Finally, Princeton Global Asset Management LLC bought a new stake in Expand Energy in the 1st quarter worth approximately $31,000. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXE. Roth Capital set a $125.00 target price on Expand Energy in a research report on Wednesday, July 30th. Wolfe Research cut their target price on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 target price on the stock in a research report on Thursday, May 22nd. Bernstein Bank dropped their price objective on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Finally, Morgan Stanley boosted their price objective on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $128.96.

Expand Energy Stock Up 0.1%

Shares of NASDAQ EXE traded up $0.14 during mid-day trading on Friday, reaching $95.13. 6,683,870 shares of the company were exchanged, compared to its average volume of 3,891,177. 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 stock has a market cap of $22.66 billion, a price-to-earnings ratio of 243.93 and a beta of 0.46. Expand Energy Corporation has a 1 year low of $69.12 and a 1 year high of $123.35. The firm has a 50-day moving average of $107.78 and a 200 day moving average of $107.27.

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

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is 589.74%.

About Expand Energy

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.