Insider Buying: Expand Energy (NASDAQ:EXE) CEO Acquires 2,000 Shares of Stock

Expand Energy Corporation (NASDAQ:EXE) CEO Michael Wichterich acquired 2,000 shares of Expand Energy stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, the chief executive officer directly owned 83,498 shares of the company’s stock, valued at approximately $8,976,035. This represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Expand Energy Price Performance

Shares of NASDAQ:EXE traded up $1.49 during midday trading on Monday, hitting $108.33. The stock had a trading volume of 737,856 shares, compared to its average volume of 3,715,629. The company’s 50-day moving average price is $106.27 and its 200-day moving average price is $106.72. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $126.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $26.04 billion, a P/E ratio of 14.37 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.11. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.28 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be paid a $0.575 dividend. The ex-dividend date is Thursday, March 5th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy’s dividend payout ratio (DPR) is presently 30.50%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXE. Weiss Ratings raised Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Piper Sandler reduced their price target on shares of Expand Energy from $137.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group lowered their price objective on shares of Expand Energy from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Stephens raised their target price on shares of Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Citigroup upped their price target on shares of Expand Energy from $118.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $130.38.

Institutional Investors Weigh In On Expand Energy

A number of institutional investors have recently added to or reduced their stakes in EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Expand Energy during the first quarter valued at $2,599,000. Ashton Thomas Private Wealth LLC bought a new position in Expand Energy during the 1st quarter worth $208,000. Focus Partners Wealth acquired a new position in Expand Energy during the 1st quarter worth about $205,000. Geneos Wealth Management Inc. bought a new stake in shares of Expand Energy in the 1st quarter valued at about $79,000. Finally, Assetmark Inc. increased its stake in shares of Expand Energy by 255.6% in the second quarter. Assetmark Inc. now owns 256 shares of the company’s stock valued at $30,000 after buying an additional 184 shares during the period. 97.93% of the stock is owned by institutional investors.

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.