Tocqueville Asset Management L.P. Takes Position in Expand Energy Corporation $EXE

Tocqueville Asset Management L.P. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, HoldingsChannel reports. The firm purchased 436,694 shares of the company’s stock, valued at approximately $39,822,000.

Several other institutional investors also recently modified their holdings of the business. West Family Investments Inc. acquired a new stake in Expand Energy in the second quarter valued at $574,000. NewEdge Wealth LLC acquired a new position in Expand Energy during the 2nd quarter worth about $285,000. Amplify Investments LLC acquired a new position in Expand Energy during the 2nd quarter worth about $33,000. Fore Capital LLC bought a new stake in shares of Expand Energy in the 2nd quarter valued at about $1,368,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Expand Energy in the 2nd quarter valued at about $2,969,000. Institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 0.6%

Shares of NASDAQ:EXE opened at $96.03 on Thursday. The company has a market capitalization of $22.23 billion, a price-to-earnings ratio of 8.29 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day moving average is $90.60 and its 200-day moving average is $97.70. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Equities research analysts predict that Expand Energy Corporation will post 8.92 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s dividend payout ratio is presently 19.86%.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of analyst reports. Truist Financial raised their price objective on Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley decreased their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Wednesday. Wolfe Research restated an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Citigroup dropped their price target 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. Finally, UBS Group reduced their price objective on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.67.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

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.