Scientech Research LLC Purchases New Position in Expand Energy Corporation $EXE

Key Points

• Scientech Research LLC acquired 5,393 shares of Expand Energy Corporation (NASDAQ:EXE) valued at approximately $600,000 during the first quarter.
• Expand Energy reported a missed earnings per share estimate of $1.10 for the last quarter, falling short of the consensus estimate of $1.14.
• The company announced a quarterly dividend of $0.575 per share, which represents a 2.4% yield and a remarkably high payout ratio of 589.74%.

Scientech Research LLC bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,393 shares of the company's stock, valued at approximately $600,000.

A number of other hedge funds have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new position in Expand Energy during the first quarter worth about $27,000. Harbour Investments Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at $27,000. First Horizon Advisors Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at $28,000. Quarry LP acquired a new position in shares of Expand Energy in the 1st quarter valued at $28,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at $29,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Expand Energy

In other news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were bought at an average price of $95.86 per share, with a total value of $239,650.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua J. Viets acquired 2,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the acquisition, the chief operating officer directly owned 61,676 shares in the company, valued at $5,684,060.16. This represents a 3.35% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

EXE has been the subject of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. The Goldman Sachs Group decreased their price target on Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. UBS Group decreased their price objective on Expand Energy from $145.00 to $132.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Wells Fargo & Company decreased their price objective on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Bernstein Bank decreased their price objective on Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $127.69.

Expand Energy Stock Up 0.4%

Shares of EXE traded up $0.38 during midday trading on Friday, reaching $96.22. 1,692,944 shares of the stock were exchanged, compared to its average volume of 2,520,402. Expand Energy Corporation has a 12-month low of $72.35 and a 12-month high of $123.35. The firm has a 50 day simple moving average of $99.47 and a 200-day simple moving average of $106.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 246.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly 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 return on equity of 5.76% and a net margin of 2.41%.The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. Research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's payout ratio is currently 589.74%.

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.