Orca Wealth Management LLC Purchases Shares of 18,964 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Orca Wealth Management LLC has invested $2.11 million in Expand Energy Corporation, acquiring 18,964 shares, which represent about 1.9% of its portfolio.
• Expand Energy has recently reported a miss in EPS with $1.10 compared to the consensus estimate of $1.14, although its revenue of $3.69 billion surpassed expectations of $2.09 billion.
• Wall Street analysts have generally given Expand Energy a "Buy" rating, with an average target price of $129.80, reflecting positive market sentiment towards the company's growth prospects.

Orca Wealth Management LLC bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,964 shares of the company's stock, valued at approximately $2,111,000. Expand Energy accounts for about 1.9% of Orca Wealth Management LLC's investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy during the 1st quarter worth about $28,000. Princeton Global Asset Management LLC purchased a new position in Expand Energy during the first quarter worth about $31,000. BankPlus Trust Department purchased a new position in Expand Energy during the first quarter worth about $32,000. Peoples Bank KS acquired a new stake in shares of Expand Energy during the first quarter valued at about $33,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Expand Energy in the 1st quarter valued at approximately $34,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Sanford C. Bernstein upgraded Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a research report on Thursday, May 22nd. Tudor Pickering & Holt dropped their price objective on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Bernstein Bank decreased their target price on Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Finally, Capital One Financial lowered their target price on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Expand Energy has an average rating of "Buy" and an average price target of $129.50.

Expand Energy Stock Down 2.7%

NASDAQ EXE traded down $2.81 on Friday, hitting $101.97. 2,661,643 shares of the stock were exchanged, compared to its average volume of 3,660,283. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35. The company has a 50-day moving average price of $111.72 and a 200-day moving average price of $107.72. The company has a market cap of $24.28 billion, a PE ratio of 261.47 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

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

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is presently 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.