TriaGen Wealth Management LLC Purchases Shares of 18,596 Expand Energy Corporation $EXE

Key Points

• TriaGen Wealth Management LLC purchased 18,596 shares of Expand Energy Corporation (NASDAQ:EXE), valued at approximately $2.18 million, marking a significant new investment in the company.
• Expand Energy reported a quarterly revenue of $3.69 billion but missed the earnings consensus estimate with an EPS of $1.10, falling short of the projected $1.14.
• Recent dividend declarations include a quarterly payment of $0.575 per share, with an annualized yield of 2.1%, although the company's dividend payout ratio is notably high at 589.74%.

TriaGen Wealth Management LLC acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,596 shares of the company's stock, valued at approximately $2,175,000.

A number of other institutional investors also recently made changes to their positions in the business. KLP Kapitalforvaltning AS grew its holdings in shares of Expand Energy by 0.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 56,432 shares of the company's stock valued at $6,599,000 after purchasing an additional 200 shares during the last quarter. SteelPeak Wealth LLC boosted its position in Expand Energy by 212.4% during the second quarter. SteelPeak Wealth LLC now owns 7,110 shares of the company's stock valued at $831,000 after buying an additional 4,834 shares during the period. Mraz Amerine & Associates Inc. bought a new position in shares of Expand Energy during the second quarter valued at about $304,000. 111 Capital purchased a new position in shares of Expand Energy in the second quarter worth about $273,000. Finally, Hennessy Advisors Inc. increased its holdings in shares of Expand Energy by 40.0% in the second quarter. Hennessy Advisors Inc. now owns 4,900 shares of the company's stock worth $573,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

NASDAQ:EXE opened at $107.73 on Tuesday. The stock has a market cap of $25.66 billion, a P/E ratio of 276.24 and a beta of 0.47. The firm's fifty day simple moving average is $99.08 and its 200 day simple moving average is $106.18. Expand Energy Corporation has a twelve month low of $82.69 and a twelve month high of $123.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate 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. As a group, research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's dividend payout ratio is presently 589.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EXE shares. UBS Group reduced their price target on Expand Energy from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Wolfe Research dropped their price objective on Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Barclays lifted their target price on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Mizuho set a $136.00 price target on shares of Expand Energy in a research report on Monday, September 15th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Expand Energy in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Expand Energy currently has an average rating of "Moderate Buy" and an average price target of $127.54.

Insider Activity

In other news, COO Joshua J. Viets bought 2,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the transaction, the chief operating officer owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction 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 represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company's stock.

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.

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