Voya Investment Management LLC Has $234.52 Million Stock Position in Expand Energy Corporation $EXE

Key Points

• Voya Investment Management LLC has reduced its stake in Expand Energy Corporation by 3.1%, selling 66,754 shares and retaining approximately 2.1 million shares valued at $234.5 million.
• Several institutional investors recently initiated positions in Expand Energy, contributing to institutional ownership which stands at 97.93% of the company's stock.
• Expand Energy's earnings report revealed a miss on EPS estimates with reported earnings per share of $1.10, while revenue significantly surpassed projections at $3.69 billion.

Voya Investment Management LLC decreased its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,107,486 shares of the company's stock after selling 66,754 shares during the quarter. Voya Investment Management LLC owned 0.89% of Expand Energy worth $234,519,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Transamerica Financial Advisors LLC bought a new position in shares of Expand Energy in the 1st quarter valued at about $27,000. Harbour Investments Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $28,000. Quarry LP bought a new position in shares of Expand Energy in the 1st quarter valued at about $28,000. Finally, Pinney & Scofield Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $29,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of NASDAQ:EXE traded up $1.94 during trading on Tuesday, reaching $97.52. 3,856,093 shares of the stock were exchanged, compared to its average volume of 3,658,116. Expand Energy Corporation has a 12 month low of $72.77 and a 12 month high of $123.35. The firm has a market cap of $23.22 billion, a PE ratio of 250.06 and a beta of 0.46. The stock has a 50-day moving average price of $99.20 and a 200-day moving average price of $106.06. The company has a current ratio of 0.78, a quick 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 earnings per share (EPS) 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 the consensus estimate of $2.09 billion. Research analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, August 14th. Expand Energy's payout ratio is 589.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EXE. Piper Sandler decreased their price objective on Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Bernstein Bank decreased their price objective on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. 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 report on Tuesday, July 15th. Morgan Stanley raised their price objective on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Capital One Financial reduced their price target on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Two equities research 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 company's stock. Based on data from MarketBeat.com, Expand Energy has an average rating of "Buy" and a consensus target price of $127.46.

Insider Activity at Expand Energy

In related news, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer owned 61,676 shares of the company's stock, valued at $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

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.