Expand Energy Corporation $EXE Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 49.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,008 shares of the company’s stock after acquiring an additional 666 shares during the quarter. Fifth Third Bancorp’s holdings in Expand Energy were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EXE. Harbour Investments Inc. acquired a new position in shares of Expand Energy during the first quarter valued at approximately $27,000. Transamerica Financial Advisors LLC acquired a new position in shares of Expand Energy during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. acquired a new position in shares of Expand Energy during the first quarter valued at approximately $28,000. Quarry LP acquired a new position in Expand Energy in the first quarter worth approximately $28,000. Finally, Cheviot Value Management LLC acquired a new position in Expand Energy in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on EXE. Bernstein Bank decreased their price target on shares of Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. Wolfe Research decreased their price target on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Raymond James Financial restated a “strong-buy” rating and issued a $150.00 price target (up previously from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. Capital One Financial decreased their price target on shares of Expand Energy from $105.00 to $101.00 in a research report on Thursday, July 3rd. Finally, Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the stock a “buy” rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Expand Energy has a consensus rating of “Buy” and a consensus price target of $127.46.

Insider Buying and Selling at Expand Energy

In other news, CEO Domenic J. Dell’osso, Jr. bought 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 acquisition, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at $15,981,299.90. The trade was a 1.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Joshua J. Viets bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price 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 approximately $5,684,060.16. This trade represents a 3.35% 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 Stock Down 0.5%

EXE stock opened at $106.24 on Wednesday. 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 Corporation has a 1 year low of $80.75 and a 1 year high of $123.35. The company has a fifty day simple moving average of $98.33 and a 200 day simple moving average of $106.18. The firm has a market cap of $25.30 billion, a PE ratio of 272.42 and a beta of 0.46.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Sell-side analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 14th. Expand Energy’s dividend payout ratio (DPR) is 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.