SteelPeak Wealth LLC Buys 4,834 Shares of Expand Energy Corporation $EXE

SteelPeak Wealth LLC lifted its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 212.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,110 shares of the company’s stock after acquiring an additional 4,834 shares during the period. SteelPeak Wealth LLC’s holdings in Expand Energy were worth $831,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Expand Energy during the 1st quarter worth $3,757,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Expand Energy during the 1st quarter worth $1,179,000. Wedbush Securities Inc. bought a new stake in shares of Expand Energy during the 1st quarter worth $210,000. Cambridge Investment Research Advisors Inc. bought a new stake in Expand Energy in the first quarter worth $1,383,000. Finally, Bessemer Group Inc. bought a new stake in Expand Energy in the first quarter worth $75,000. 97.93% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer directly owned 61,676 shares of the company’s stock, valued at $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Expand Energy Price Performance

EXE stock opened at $108.68 on Thursday. The firm’s 50-day moving average price is $99.36 and its two-hundred day moving average price is $106.22. Expand Energy Corporation has a 12-month low of $82.69 and a 12-month high of $123.35. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 278.67 and a beta of 0.47. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.09 billion. As a group, equities analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy’s payout ratio is currently 589.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EXE. Capital One Financial lowered their price target on shares of Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Jefferies Financial Group lowered their price target on shares of Expand Energy from $141.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, October 3rd. Roth Capital downgraded shares of Expand Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $98.00 in a research note on Monday, August 18th. Bernstein Bank lowered their price target on shares of Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Finally, UBS Group lowered their price target on shares of Expand Energy from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.42.

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.