Continuum Advisory LLC Makes New $6.28 Million Investment in Expand Energy Corporation $EXE

Continuum Advisory LLC purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 68,903 shares of the company’s stock, valued at approximately $6,283,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Expand Energy in the 2nd quarter valued at $1,778,004,000. State Street Corp raised its position in Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after purchasing an additional 1,014,484 shares during the last quarter. Oaktree Capital Management LP raised its position in Expand Energy by 3.5% in the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after purchasing an additional 175,114 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after purchasing an additional 2,188,422 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXE. Citigroup lowered their price objective on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. The Goldman Sachs Group upped their target price on shares of Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Roth Capital reiterated a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Truist Financial raised their price target on Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Benchmark dropped their price target on Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.89.

Expand Energy Stock Down 0.7%

Shares of NASDAQ:EXE opened at $99.32 on Thursday. The company has a market cap of $22.99 billion, a price-to-earnings ratio of 8.58 and a beta of 0.34. The firm’s 50-day simple moving average is $92.48 and its 200-day simple moving average is $97.03. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. As a group, equities research analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy’s payout ratio is presently 19.86%.

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.