Corton Capital Inc. Buys New Shares in Expand Energy Corporation $EXE

Corton Capital Inc. bought a new stake in Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,733 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Uncommon Cents Investing LLC increased its position in shares of Expand Energy by 6.0% in the second quarter. Uncommon Cents Investing LLC now owns 1,945 shares of the company’s stock valued at $227,000 after acquiring an additional 110 shares during the last quarter. Essex Savings Bank increased its position in shares of Expand Energy by 5.3% in the second quarter. Essex Savings Bank now owns 2,420 shares of the company’s stock valued at $283,000 after acquiring an additional 121 shares during the last quarter. Signaturefd LLC increased its position in shares of Expand Energy by 5.6% in the second quarter. Signaturefd LLC now owns 2,530 shares of the company’s stock valued at $296,000 after acquiring an additional 134 shares during the last quarter. US Bancorp DE increased its position in shares of Expand Energy by 1.0% in the second quarter. US Bancorp DE now owns 16,866 shares of the company’s stock valued at $1,972,000 after acquiring an additional 162 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of Expand Energy by 125.9% in the second quarter. JFS Wealth Advisors LLC now owns 305 shares of the company’s stock valued at $36,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Trading Down 0.0%

Shares of NASDAQ:EXE opened at $110.05 on Wednesday. Expand Energy Corporation has a 12-month low of $85.05 and a 12-month high of $123.35. The stock has a market cap of $26.21 billion, a PE ratio of 31.26 and a beta of 0.47. The business has a 50 day moving average of $101.72 and a 200-day moving average of $105.90. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%.The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. As a group, equities research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, November 13th. Expand Energy’s payout ratio is currently 65.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $150.00 target price (up previously from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Expand Energy in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on Expand Energy from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Piper Sandler reduced their price target on Expand Energy from $140.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, William Blair assumed coverage on Expand Energy in a report on Tuesday, October 14th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.24.

Insider Buying and Selling

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 SEC filing for this purchase provides additional information. Insiders own 0.17% 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.