Moran Wealth Management LLC Purchases 8,802 Shares of Expand Energy Corporation $EXE

Moran Wealth Management LLC grew its holdings in Expand Energy Corporation (NASDAQ:EXE) by 41.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,834 shares of the company’s stock after purchasing an additional 8,802 shares during the quarter. Moran Wealth Management LLC’s holdings in Expand Energy were worth $3,275,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. PFG Investments LLC acquired a new stake in Expand Energy in the 1st quarter valued at approximately $287,000. First Dallas Securities Inc. grew its stake in shares of Expand Energy by 12.0% in the first quarter. First Dallas Securities Inc. now owns 31,014 shares of the company’s stock worth $3,405,000 after acquiring an additional 3,320 shares during the last quarter. New York State Teachers Retirement System increased its position in Expand Energy by 16.6% during the first quarter. New York State Teachers Retirement System now owns 169,544 shares of the company’s stock worth $18,613,000 after acquiring an additional 24,109 shares during the period. Y Intercept Hong Kong Ltd increased its position in Expand Energy by 85.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 111,757 shares of the company’s stock worth $12,269,000 after acquiring an additional 51,584 shares during the period. Finally, Elevation Point Wealth Partners LLC raised its stake in Expand Energy by 750.1% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 32,473 shares of the company’s stock valued at $3,565,000 after purchasing an additional 28,653 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Price Performance

Shares of EXE stock opened at $90.72 on Monday. The stock has a market cap of $21.70 billion, a P/E ratio of 6.77 and a beta of 0.34. Expand Energy Corporation has a one year low of $86.37 and a one year high of $126.62. The stock has a fifty day moving average price of $93.22 and a 200 day moving average price of $101.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. Analysts predict that Expand Energy Corporation will post 8.67 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy’s payout ratio is 17.15%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXE shares. Weiss Ratings downgraded shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Piper Sandler upped their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Morgan Stanley reduced their target price on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, UBS Group lifted their target price on Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.47.

Insider Activity

In related news, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the purchase, the chief financial officer owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 4,000 shares of company stock worth $375,120. 0.22% of the stock is owned by company insiders.

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.