Public Employees Retirement System of Ohio Buys New Stake in Expand Energy Corporation $EXE

Key Points

• Public Employees Retirement System of Ohio acquired 77,635 shares of Expand Energy worth approximately $7.08 million during the second quarter. Institutional investors and hedge funds collectively own 97.93% of the company.
• Expand Energy reported quarterly earnings of $1.33 per share, exceeding analyst expectations of $1.13, while revenue totaled $2.96 billion. The company also declared a quarterly dividend of $0.575 per share, representing a 2.3% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $126.89, compared with shares trading near $99.98.

Public Employees Retirement System of Ohio purchased a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 77,635 shares of the company's stock, valued at approximately $7,080,000.

A number of other large investors have also made changes to their positions in EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Expand Energy in the 1st quarter worth $2,599,000. Ashton Thomas Private Wealth LLC acquired a new position in Expand Energy during the 1st quarter valued at about $208,000. Focus Partners Wealth acquired a new position in Expand Energy during the 1st quarter valued at about $205,000. Geneos Wealth Management Inc. purchased a new stake in Expand Energy in the first quarter valued at about $79,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Expand Energy in the second quarter valued at about $757,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Stock Performance

Shares of NASDAQ EXE opened at $99.98 on Wednesday. The company has a 50 day simple moving average of $92.27 and a two-hundred day simple moving average of $97.06. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 8.63 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 quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. As a group, analysts predict that Expand Energy Corporation will post 8.84 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 3rd. Stockholders of record on Thursday, August 13th will be paid a $0.575 dividend. The ex-dividend date is Thursday, August 13th. 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 19.86%.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich bought 1,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EXE shares. Citigroup dropped their price target on Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. The Goldman Sachs Group lifted their target price on shares of Expand Energy from $99.00 to $113.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Johnson Rice downgraded shares of Expand Energy from a "buy" rating to an "accumulate" rating and dropped their target price for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Truist Financial upped their price target on shares of Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, UBS Group decreased their price target on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.89.

Expand Energy 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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