Cim Investment Management Inc. Invests $252,000 in Expand Energy Corporation $EXE

Cim Investment Management Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,266 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds also recently modified their holdings of EXE. Vanguard Group Inc. acquired a new position in shares of Expand Energy during the 1st quarter worth $2,973,033,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Expand Energy during the 1st quarter worth $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Expand Energy during the 1st quarter worth $701,831,000. Wellington Management Group LLP acquired a new position in shares of Expand Energy during the 1st quarter worth $624,083,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Expand Energy during the 1st quarter worth $518,328,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analyst Ratings Changes

EXE has been the subject of several recent analyst reports. Capital One Financial decreased their price objective on shares of Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Wells Fargo & Company decreased their price objective on shares of Expand Energy from $121.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of Expand Energy in a report on Wednesday, August 13th. Jefferies Financial Group set a $135.00 price objective on shares of Expand Energy and gave the stock a “buy” rating in a report on Saturday, June 14th. Finally, Barclays upped their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $127.69.

Insiders Place Their Bets

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 stock was purchased at an average cost of $95.86 per share, with a total value of $239,650.00. Following the acquisition, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 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, with a total value of $184,320.00. Following the completion of the acquisition, the chief operating officer owned 61,676 shares in the company, 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. 0.19% of the stock is owned by corporate insiders.

Expand Energy Price Performance

Shares of Expand Energy stock opened at $95.84 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. Expand Energy Corporation has a fifty-two week low of $71.06 and a fifty-two week high of $123.35. The firm has a fifty day moving average price of $99.70 and a two-hundred day moving average price of $106.05. The company has a market cap of $22.82 billion, a PE ratio of 245.75 and a beta of 0.46.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share 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 during the quarter, compared to the consensus estimate of $2.09 billion. Analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued 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 2.4%. Expand Energy’s dividend payout ratio is 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.