TD Asset Management Inc Lowers Position in Expand Energy Corporation $EXE

TD Asset Management Inc cut its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 1.3% in the second quarter, HoldingsChannel.com reports. The firm owned 402,459 shares of the company’s stock after selling 5,406 shares during the quarter. TD Asset Management Inc’s holdings in Expand Energy were worth $47,064,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EXE. Harbour Investments Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth $27,000. Transamerica Financial Advisors LLC purchased a new position in shares of Expand Energy during the 1st quarter worth $27,000. First Horizon Advisors Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth $28,000. Quarry LP purchased a new position in shares of Expand Energy during the 1st quarter worth $28,000. Finally, Cheviot Value Management LLC purchased a new position in Expand Energy during the 1st quarter valued at about $29,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Price Performance

EXE stock opened at $98.59 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $23.48 billion, a P/E ratio of 252.80 and a beta of 0.47. The business’s 50-day moving average is $99.42 and its two-hundred day moving average is $105.89. Expand Energy Corporation has a 1 year low of $82.69 and a 1 year high of $123.35.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results 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). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. Analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. Expand Energy’s dividend payout ratio (DPR) is currently 589.74%.

Insider Transactions at Expand Energy

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

Analyst Upgrades and Downgrades

EXE has been the subject of a number of research analyst reports. Capital One Financial lowered their target price on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Mizuho set a $136.00 target price on Expand Energy in a report on Monday, September 15th. Roth Capital cut Expand Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $98.00 in a report on Monday, August 18th. The Goldman Sachs Group lowered their target price on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Finally, Piper Sandler lowered their target price on Expand Energy from $140.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.62.

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.