Clear Harbor Asset Management LLC Takes Position in Expand Energy Corporation $EXE

Clear Harbor Asset Management LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel reports. The firm bought 34,269 shares of the company’s stock, valued at approximately $3,125,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in Expand Energy during the second quarter worth $1,821,000. Compass Financial Management LLC acquired a new stake in Expand Energy in the second quarter valued at $45,000. Elevation Point Wealth Partners LLC acquired a new stake in Expand Energy in the second quarter valued at $3,574,000. Daiichi Life Insurance Co. Ltd. bought a new position in shares of Expand Energy in the 2nd quarter valued at about $3,343,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Expand Energy in the 2nd quarter valued at about $490,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EXE shares. Wolfe Research restated an “outperform” rating and set a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Barclays lowered their price target on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Finally, Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and dropped their price objective for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Insider Activity

In other news, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Expand Energy Price Performance

Shares of EXE opened at $96.09 on Friday. The firm has a market capitalization of $22.24 billion, a PE ratio of 8.30 and a beta of 0.34. The company’s 50-day moving average is $90.93 and its 200-day moving average is $97.58. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Equities analysts forecast that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders 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 payout ratio is currently 19.86%.

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.