Quantitative Investment Management LLC Takes Position in Expand Energy Corporation $EXE

Key Points

• Quantitative Investment Management LLC has acquired a new stake in Expand Energy Corporation by purchasing 2,988 shares valued at approximately $332,000.
• Insiders, including COO Joshua J. Viets and CEO Domenic J. Dell'osso, Jr., have increased their positions in the company by buying additional shares in recent transactions.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, which translates to an annualized yield of 2.4%, reflecting a high payout ratio of 589.74%.

Quantitative Investment Management LLC purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,988 shares of the company's stock, valued at approximately $332,000.

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

Insider Transactions at Expand Energy

In other news, COO Joshua J. Viets purchased 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at $5,684,060.16. This trade represents a 3.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the business's stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

EXE has been the subject of several research reports. Bernstein Bank cut their price target on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Barclays raised their price target on Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Wolfe Research cut their price target on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Capital One Financial cut their price target on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Finally, Tudor Pickering & Holt cut their price target on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $127.42.

Expand Energy Price Performance

Shares of NASDAQ EXE traded down $0.46 during mid-day trading on Friday, reaching $96.78. The company had a trading volume of 1,493,936 shares, compared to its average volume of 3,722,899. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 248.16 and a beta of 0.46. The business's 50-day simple moving average is $103.83 and its 200 day simple moving average is $106.68.

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

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, August 14th. Expand Energy's payout ratio is currently 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.