Elevation Point Wealth Partners LLC Purchases New Shares in Expand Energy Corporation $EXE

Elevation Point Wealth Partners LLC purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 39,198 shares of the company’s stock, valued at approximately $3,574,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Daiichi Life Insurance Co. Ltd. acquired a new stake in Expand Energy in the 2nd quarter valued at about $3,343,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Expand Energy in the second quarter worth about $490,000. Evolve Private Wealth LLC acquired a new position in shares of Expand Energy during the second quarter worth approximately $334,000. X Square Capital LLC acquired a new position in shares of Expand Energy during the second quarter worth approximately $754,000. Finally, Westpac Banking Corp acquired a new position in shares of Expand Energy during the second quarter worth approximately $707,000. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXE. Benchmark lowered their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Barclays dropped their price objective on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Morgan Stanley reduced their price objective on Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Wednesday. Roth Capital reiterated a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Finally, UBS Group lowered their target price on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.67.

Expand Energy Stock Performance

Expand Energy stock opened at $96.09 on Friday. 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 Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. The company has a market cap of $22.24 billion, a PE ratio of 8.30 and a beta of 0.34. The company’s 50-day moving average is $90.93 and its two-hundred day moving average is $97.58.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate 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. Equities analysts anticipate that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 dividend yield of 2.4%. Expand Energy’s payout ratio is presently 19.86%.

Insider Activity

In related news, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

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.