Expand Energy (NASDAQ:EXE) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Expand Energy (NASDAQ:EXE) released its earnings results on Tuesday. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20, FiscalAI reports. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion.

Expand Energy Stock Down 2.2%

Expand Energy stock opened at $88.52 on Wednesday. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 6.60 and a beta of 0.34. The company’s 50 day simple moving average is $90.29 and its 200 day simple moving average is $98.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. Expand Energy has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This represents a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 4,000 shares of company stock valued at $375,120 in the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares during the period. Invesco Ltd. lifted its holdings in shares of Expand Energy by 16.5% during the 3rd quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock valued at $463,140,000 after purchasing an additional 619,001 shares in the last quarter. Morgan Stanley grew its position in shares of Expand Energy by 4.5% in the 4th quarter. Morgan Stanley now owns 3,183,177 shares of the company’s stock valued at $351,296,000 after purchasing an additional 138,381 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Expand Energy by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,365 shares of the company’s stock valued at $253,901,000 after purchasing an additional 21,050 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Expand Energy by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,063,440 shares of the company’s stock worth $227,721,000 after purchasing an additional 806,453 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXE. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Truist Financial cut their target price on shares of Expand Energy from $134.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Morgan Stanley reduced their target price on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Weiss Ratings cut shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Finally, UBS Group dropped their price target on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Expand Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.19.

Expand Energy Company 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.