Persistent Asset Partners Ltd Acquires Shares of 17,175 Expand Energy Corporation $EXE

Key Points

• Persistent Asset Partners acquired 17,175 shares of Expand Energy in the second quarter, valued at approximately $1.5 million. Institutional investors collectively own 97.93% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $128.12 price target, although Barclays and William Blair recently downgraded the stock.
• Expand Energy reported quarterly EPS of $1.33, exceeding estimates of $1.13, and declared a quarterly dividend of $0.575, equivalent to a 2.4% annualized yield.

Persistent Asset Partners Ltd bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,175 shares of the company's stock, valued at approximately $1,507,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Expand Energy during the first quarter valued at $2,599,000. Ashton Thomas Private Wealth LLC acquired a new stake in Expand Energy in the first quarter worth about $208,000. Focus Partners Wealth acquired a new stake in Expand Energy in the first quarter worth about $205,000. Geneos Wealth Management Inc. acquired a new stake in Expand Energy in the first quarter worth about $79,000. Finally, Gamco Investors INC. ET AL bought a new stake in Expand Energy during the 2nd quarter worth about $757,000. Institutional investors own 97.93% of the company's stock.

Analyst Ratings Changes

EXE has been the topic of a number of research reports. Barclays downgraded shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. Weiss Ratings cut shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Wolfe Research reissued an "outperform" rating and set a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. William Blair lowered shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Finally, Roth Capital reaffirmed a "neutral" rating and issued a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.12.

Expand Energy Stock Performance

NASDAQ EXE opened at $94.78 on Monday. The stock has a 50-day simple moving average of $90.24 and a 200 day simple moving average of $98.00. The company has a market capitalization of $21.94 billion, a PE ratio of 8.18 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Research analysts forecast that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is 19.86%.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is owned by corporate 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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