Stock Traders Purchase High Volume of Expand Energy Put Options (NASDAQ:EXE)

Key Points

• Put-option activity nearly doubled: Traders purchased 15,585 put options on Expand Energy, about 96% above its average volume of 7,966 contracts, signaling heightened bearish or hedging interest.
• Expand Energy shares fell $0.39 to $99.59, while the company reported quarterly EPS of $1.33, exceeding estimates by $0.20, despite revenue of $2.96 billion coming in below expectations.
• Analysts remain broadly positive: The stock has a “Moderate Buy” consensus rating and an average price target of $126.89. Expand Energy also declared a quarterly dividend of $0.575 per share, representing a 2.3% annualized yield.

Expand Energy Corporation (NASDAQ:EXE - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 15,585 put options on the stock. This represents an increase of approximately 96% compared to the average volume of 7,966 put options.

Expand Energy Stock Performance

Expand Energy stock traded down $0.39 during trading hours on Wednesday, reaching $99.59. 724,680 shares of the company were exchanged, compared to its average volume of 3,592,116. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 8.60 and a beta of 0.34. The stock has a 50-day moving average of $92.27 and a 200 day moving average of $97.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy has a 12 month low of $84.99 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. As a group, research analysts anticipate that Expand Energy will post 8.84 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's dividend payout ratio is 19.86%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EXE. Weiss Ratings cut Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Roth Capital reaffirmed a "neutral" rating and issued a $93.00 target price on shares of Expand Energy in a research report on Wednesday, July 29th. Morgan Stanley cut their price target on Expand Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a report on Wednesday, August 19th. The Goldman Sachs Group boosted their target price on Expand Energy from $99.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Finally, Johnson Rice lowered shares of Expand Energy from a "buy" rating to an "accumulate" rating and lowered their target price for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.89.

Insider Activity

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Expand Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp raised its position in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Expand Energy during the 2nd quarter worth $27,000. SJS Investment Consulting Inc. raised its stake in Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after acquiring an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy in the fourth quarter valued at $30,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Expand Energy in the first quarter worth approximately $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source