Expand Energy Target of Unusually High Options Trading (NASDAQ:EXE)

Expand Energy Corporation (NASDAQ:EXE) was the recipient of some unusual options trading activity on Thursday. Traders acquired 9,881 put options on the stock. This represents an increase of approximately 41% compared to the average daily volume of 6,987 put options.

Expand Energy Trading Up 2.3%

NASDAQ:EXE opened at $107.95 on Friday. Expand Energy has a 1-year low of $91.01 and a 1-year high of $126.62. The business’s 50-day moving average price is $105.99 and its two-hundred day moving average price is $107.27. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 14.32 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.28 billion. On average, equities analysts expect that Expand Energy will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy’s payout ratio is 30.50%.

Wall Street Analyst Weigh In

EXE has been the topic of several research reports. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a report on Monday, February 23rd. TD Cowen raised Expand Energy to a “strong-buy” rating in a research note on Monday, February 9th. Benchmark lifted their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Sanford C. Bernstein dropped their price objective on Expand Energy from $145.00 to $144.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, Piper Sandler raised their target price on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Expand Energy presently has an average rating of “Buy” and a consensus price target of $131.27.

Insiders Place Their Bets

In related news, CEO Michael Wichterich bought 2,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was bought at an average cost of $107.50 per share, with a total value of $215,000.00. Following the completion of the purchase, the chief executive officer owned 83,498 shares in the company, valued at approximately $8,976,035. The trade was a 2.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Expand Energy

Several hedge funds have recently added to or reduced their stakes in EXE. Atlantic Union Bankshares Corp grew its stake in Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Rakuten Securities Inc. raised its position in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy during the 4th quarter valued at about $30,000. ESL Trust Services LLC bought a new position in shares of Expand Energy during the 3rd quarter valued at about $32,000. Finally, Abound Wealth Management grew its position in shares of Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds 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.