Expand Energy Corporation (NASDAQ:EXE) Receives $127.62 Average PT from Brokerages

Shares of Expand Energy Corporation (NASDAQ:EXE) have earned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $127.6154.

A number of equities research analysts have weighed in on EXE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Expand Energy in a report on Wednesday, October 8th. Roth Capital downgraded Expand Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $98.00 in a report on Monday, August 18th. Bernstein Bank lowered their target price on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Jefferies Financial Group reduced their price objective on Expand Energy from $141.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, October 3rd. Finally, Tudor Pickering & Holt reduced their price objective on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st.

Expand Energy Trading Up 2.2%

Shares of EXE stock opened at $100.78 on Thursday. The company has a market cap of $24.00 billion, a P/E ratio of 258.42 and a beta of 0.47. The stock has a 50 day simple moving average of $99.45 and a two-hundred day simple moving average of $105.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy has a fifty-two week low of $82.69 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Research analysts forecast that Expand Energy will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders 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 2.3%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy’s dividend payout ratio (DPR) is 589.74%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Encompass More Asset Management purchased a new position in shares of Expand Energy during the third quarter valued at approximately $314,000. Mattson Financial Services LLC purchased a new position in shares of Expand Energy during the third quarter valued at approximately $230,000. Permanent Capital Management LP purchased a new position in shares of Expand Energy during the third quarter valued at approximately $2,569,000. Perigon Wealth Management LLC purchased a new position in shares of Expand Energy during the third quarter valued at approximately $333,000. Finally, Montgomery Investment Management Inc. boosted its position in shares of Expand Energy by 7.3% during the third quarter. Montgomery Investment Management Inc. now owns 2,940 shares of the company’s stock valued at $312,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About Expand Energy

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.