Raymond James Financial Inc. Reduces Position in Expand Energy Corporation $EXE

Key Points

• Raymond James Financial Inc. reduced its stake in Expand Energy Corporation by 10.5%, ending the quarter with approximately 450,245 shares valued at about $50.1 million.
• Several other institutional investors made new purchases in Expand Energy, with hedge funds and institutional investors holding roughly 97.93% of its stock.
• Expand Energy's quarterly earnings reported an EPS of $1.10, missing the consensus estimate, and the company announced a quarterly dividend of $0.575.

Raymond James Financial Inc. decreased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 450,245 shares of the company's stock after selling 52,864 shares during the period. Raymond James Financial Inc. owned approximately 0.19% of Expand Energy worth $50,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXE. GAMMA Investing LLC acquired a new position in Expand Energy during the 1st quarter worth approximately $36,507,000. Parallel Advisors LLC acquired a new position in Expand Energy during the 1st quarter worth approximately $286,000. Doliver Advisors LP acquired a new position in Expand Energy during the 1st quarter worth approximately $446,000. Peoples Bank KS acquired a new position in Expand Energy during the 1st quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Expand Energy during the 1st quarter worth approximately $466,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Trading Up 1.6%

Expand Energy stock traded up $1.55 during midday trading on Tuesday, reaching $96.17. The stock had a trading volume of 1,316,824 shares, compared to its average volume of 3,735,234. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The stock has a market capitalization of $22.90 billion, a PE ratio of 246.38 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The stock's 50-day simple moving average is $105.28 and its 200 day simple moving average is $106.88.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.09 billion. Analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's dividend payout ratio (DPR) is 589.74%.

Insider Activity

In related news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the business's stock in a transaction on Friday, August 15th. The shares were bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the transaction, the chief executive officer directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joshua J. Viets acquired 2,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer directly owned 61,676 shares of the company's stock, valued at $5,684,060.16. This trade represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EXE shares. Siebert Williams Shank dropped their target price on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. KeyCorp set a $135.00 price target on Expand Energy and gave the stock an "overweight" rating in a report on Friday, June 13th. Piper Sandler lowered their price target on Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Tudor Pickering & Holt lowered their price target on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Finally, Mizuho upped their price target on Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $127.42.

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.