Sanctuary Advisors LLC Invests $3.14 Million in Expand Energy Corporation $EXE

Key Points

• Sanctuary Advisors acquired 34,476 shares of Expand Energy worth approximately $3.14 million in the second quarter. Institutional investors collectively own 97.93% of the company, while CEO Michael Wichterich purchased 1,000 shares.
• Expand Energy exceeded quarterly earnings expectations, reporting $1.33 in EPS versus the $1.13 consensus estimate, though revenue of $2.96 billion fell short of forecasts.
• The company declared a quarterly dividend of $0.575 per share, equal to a $2.30 annualized payout and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $127.67, above the stock’s $94.66 opening price.

Sanctuary Advisors LLC acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,476 shares of the company's stock, valued at approximately $3,144,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. RR Advisors LLC purchased a new stake in Expand Energy during the 2nd quarter worth approximately $6,390,000. Solstein Capital LLC purchased a new position in shares of Expand Energy in the second quarter worth $114,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Expand Energy during the second quarter worth $616,000. Pinnacle Holdings LLC acquired a new stake in shares of Expand Energy during the second quarter worth $73,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Expand Energy during the second quarter valued at $3,125,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Expand Energy Stock Down 1.7%

EXE stock opened at $94.66 on Wednesday. The firm's fifty day simple moving average is $91.22 and its 200-day simple moving average is $97.32. The company has a market capitalization of $21.91 billion, a P/E ratio of 8.17 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. 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. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. As a group, equities research analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Expand Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 19th. UBS Group lowered their price target on Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Benchmark dropped their price target on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Truist Financial increased their price objective on Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Roth Capital restated a "neutral" rating and issued a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Expand Energy presently has an average rating of "Moderate Buy" and an average target price of $127.67.

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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