Hartford Investment Management Co. Acquires 285 Shares of Expand Energy Corporation $EXE

Hartford Investment Management Co. raised its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,118 shares of the company’s stock after buying an additional 285 shares during the quarter. Hartford Investment Management Co.’s holdings in Expand Energy were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Expand Energy Stock Up 1.3%

NASDAQ EXE opened at $105.77 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a 52 week low of $80.72 and a 52 week high of $123.35. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 271.21 and a beta of 0.46. The company has a fifty day moving average of $98.05 and a two-hundred day moving average of $106.11.

Expand Energy (NASDAQ:EXE) last released its earnings results 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 during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EXE shares. Scotiabank reaffirmed an “outperform” rating on shares of Expand Energy in a report on Wednesday, August 13th. Morgan Stanley boosted their price target on shares of Expand Energy from $134.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Roth Capital lowered shares of Expand Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $98.00 in a research report on Monday, August 18th. UBS Group reduced their target price on shares of Expand Energy from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Bernstein Bank decreased their target price on shares of Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Expand Energy has an average rating of “Buy” and a consensus target price of $127.46.

Insider Buying and Selling

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

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.