GAMMA Investing LLC Buys 711 Shares of Expand Energy Corporation $EXE

GAMMA Investing LLC lifted its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 24.1% in the second quarter, HoldingsChannel reports. The fund owned 3,657 shares of the company’s stock after acquiring an additional 711 shares during the period. GAMMA Investing LLC’s holdings in Expand Energy were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXE. Vanguard Group Inc. bought a new position in Expand Energy in the 1st quarter worth approximately $2,973,033,000. Price T Rowe Associates Inc. MD bought a new position in Expand Energy in the 1st quarter worth approximately $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new position in Expand Energy in the 1st quarter worth approximately $701,831,000. Wellington Management Group LLP bought a new position in Expand Energy in the 1st quarter worth approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Expand Energy in the 1st quarter worth approximately $518,328,000. 97.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Expand Energy

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley upped their price target on Expand Energy from $134.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. The Goldman Sachs Group dropped their price target on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Piper Sandler dropped their price target on Expand Energy from $140.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Barclays upped their price target on Expand Energy from $122.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on Expand Energy from $121.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Expand Energy currently has an average rating of “Buy” and a consensus target price of $127.46.

Expand Energy Stock Up 1.2%

Shares of EXE opened at $104.38 on Friday. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 267.65 and a beta of 0.46. Expand Energy Corporation has a 1 year low of $77.41 and a 1 year high of $123.35. The business’s 50 day simple moving average is $98.10 and its 200-day simple moving average is $106.04. 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 (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, equities analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 14th. Expand Energy’s dividend payout ratio is presently 589.74%.

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.