Praxis Investment Management Inc. Purchases Shares of 9,380 Expand Energy Corporation $EXE

Key Points

• Praxis Investment Management Inc. has acquired 9,380 shares of Expand Energy Corporation, valued at approximately $1,097,000, indicating growing interest in the stock.
• Expand Energy has recently seen multiple large investors purchase shares, contributing to institutional ownership of 97.93% of the stock.
• The company's recent quarterly earnings report revealed a net income of $3.69 billion but an EPS of $1.10, which was below the consensus estimate.

Praxis Investment Management Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,380 shares of the company's stock, valued at approximately $1,097,000.

A number of other large investors have also recently bought and sold shares of EXE. Vanguard Group Inc. bought a new stake in Expand Energy in the first quarter valued at $2,973,033,000. Price T Rowe Associates Inc. MD acquired a new position in Expand Energy in the first quarter worth $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new position in Expand Energy in the first quarter worth $701,831,000. Wellington Management Group LLP acquired a new position in Expand Energy in the first quarter worth $624,083,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Expand Energy in the first quarter worth $518,328,000. 97.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on EXE. Bernstein Bank reduced their price objective on Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Piper Sandler reduced their price objective on Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Wolfe Research reduced their price objective on Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Morgan Stanley reduced their price objective on Expand Energy from $139.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $150.00 price objective (up previously from $146.00) on shares of Expand Energy in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Expand Energy has a consensus rating of "Moderate Buy" and a consensus price target of $127.62.

Expand Energy Trading Up 2.2%

Shares of EXE opened at $100.78 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. Expand Energy Corporation has a 12-month low of $82.69 and a 12-month high of $123.35. The firm has a market capitalization of $24.00 billion, a PE ratio of 258.42 and a beta of 0.47. The stock's fifty day simple moving average is $99.45 and its 200-day simple moving average is $105.81.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly 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). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, research analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio is currently 589.74%.

Insider Transactions at Expand Energy

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

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.

Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.