TCW Group Inc. Acquires Shares of 16,970 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• TCW Group Inc. purchased a new position in Expand Energy Corporation, acquiring 16,970 shares valued at approximately $1.89 million.
• Expand Energy has significant institutional ownership, with 97.93% of the stock owned by large investors, indicating strong confidence in the company.
• The company's stock recently traded at $99.37, reflecting a market cap of $23.65 billion, despite reporting earnings below analysts' expectations.

TCW Group Inc. acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,970 shares of the company's stock, valued at approximately $1,889,000.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the first quarter worth $28,000. Princeton Global Asset Management LLC bought a new position in shares of Expand Energy during the first quarter valued at $31,000. BankPlus Trust Department bought a new stake in Expand Energy in the 1st quarter worth about $32,000. Peoples Bank KS bought a new stake in Expand Energy in the 1st quarter worth about $33,000. Finally, Key Financial Inc bought a new stake in Expand Energy in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of EXE stock traded down $2.46 during mid-day trading on Friday, reaching $102.32. The stock had a trading volume of 1,232,889 shares, compared to its average volume of 3,792,329. The business's fifty day moving average is $111.72 and its 200-day moving average is $107.72. The company has a current ratio of 0.78, a quick ratio of 0.59 and a debt-to-equity ratio of 0.29. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 261.89 and a beta of 0.48. Expand Energy Corporation has a 1-year low of $69.12 and a 1-year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Benchmark lifted their price objective on Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, April 3rd. Siebert Williams Shank reduced their price objective on Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Mizuho boosted their target price on Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 price objective on the stock in a research report on Thursday, May 22nd. Finally, Tudor Pickering & Holt cut their price objective on Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $129.50.

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.