Ritholtz Wealth Management Increases Stock Position in Expand Energy Corporation $EXE

Ritholtz Wealth Management lifted its holdings in Expand Energy Corporation (NASDAQ:EXE) by 35.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,111 shares of the company’s stock after purchasing an additional 812 shares during the period. Ritholtz Wealth Management’s holdings in Expand Energy were worth $364,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. purchased a new stake in shares of Expand Energy in the 1st quarter worth approximately $27,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Expand Energy in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy during the 1st quarter worth approximately $28,000. Quarry LP bought a new position in shares of Expand Energy during the 1st quarter worth approximately $28,000. Finally, Cheviot Value Management LLC bought a new position in shares of Expand Energy during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Jefferies Financial Group reduced their price objective 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. KeyCorp reduced their price objective on shares of Expand Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. The Goldman Sachs Group reduced their price objective on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Morgan Stanley reduced their price objective on shares of Expand Energy from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Finally, Roth Capital lowered shares of Expand Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $98.00 in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.62.

Insiders Place Their Bets

In other Expand Energy news, CEO Domenic J. Dell’osso, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joshua J. Viets acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the purchase, the chief operating officer directly owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Expand Energy Trading Up 6.1%

Shares of Expand Energy stock opened at $106.90 on Tuesday. 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 Corporation has a 12-month low of $82.69 and a 12-month high of $123.35. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 274.11 and a beta of 0.47. The firm’s 50 day simple moving average is $99.63 and its two-hundred day simple moving average is $105.77.

Expand Energy (NASDAQ:EXE) last issued 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). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.2%. Expand Energy’s dividend payout ratio is presently 589.74%.

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.