Expand Energy Corporation $EXE Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,106 shares of the company’s stock after selling 10,379 shares during the quarter. King Luther Capital Management Corp owned 0.09% of Expand Energy worth $17,752,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Eastern Bank acquired a new stake in shares of Expand Energy during the second quarter worth about $27,000. N.E.W. Advisory Services LLC purchased a new stake in Expand Energy in the second quarter valued at approximately $32,000. Amplify Investments LLC purchased a new stake in Expand Energy in the second quarter valued at approximately $33,000. Harbor Investment Advisory LLC purchased a new stake in Expand Energy in the second quarter valued at approximately $33,000. Finally, Basecamp Wealth Advisors LLC increased its holdings in Expand Energy by 108.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 404 shares of the company’s stock worth $44,000 after buying an additional 210 shares during the period. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Trading Down 0.9%

Expand Energy stock opened at $87.80 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Expand Energy Corporation has a 12 month low of $83.25 and a 12 month high of $126.62. The stock’s 50 day simple moving average is $90.14 and its two-hundred day simple moving average is $95.99. The firm has a market cap of $20.28 billion, a PE ratio of 7.61 and a beta of 0.40.

Expand Energy (NASDAQ:EXE) last posted its earnings results on Tuesday, October 27th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.17. Expand Energy had a net margin of 19.78% and a return on equity of 10.69%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $2.85 billion. Analysts anticipate that Expand Energy Corporation will post 8.73 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be given a dividend of $0.5750 per share. This represents a $2.30 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, November 12th. Expand Energy’s dividend payout ratio (DPR) is currently 19.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXE shares. Roth Capital reduced their price target on shares of Expand Energy from $93.00 to $92.00 in a research report on Wednesday, October 14th. Truist Financial lifted their price objective on shares of Expand Energy from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. UBS Group dropped their price objective on shares of Expand Energy from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Freedom Broker upgraded shares of Expand Energy to a “strong-buy” rating in a research note on Thursday, September 3rd. Finally, Stephens reduced their target price on shares of Expand Energy from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.08.

Expand Energy Company Profile

Expand Energy Corporation is an independent natural gas exploration and production company focused on developing U.S. shale resources. Its activities include acquiring, exploring and operating oil and natural gas properties, with natural gas as its primary product. The company’s operations are concentrated in the Haynesville region of Louisiana and the Appalachia region, which includes the Marcellus and Utica formations. Its production supports the domestic natural gas market and related energy infrastructure.