Hazlett Burt & Watson Inc. Sells 5,000 Shares of Expand Energy Corporation $EXE

Hazlett Burt & Watson Inc. lowered its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 75.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,610 shares of the company’s stock after selling 5,000 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Expand Energy were worth $189,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Park Avenue Securities LLC acquired a new position in shares of Expand Energy in the first quarter valued at $280,000. Farther Finance Advisors LLC bought a new stake in shares of Expand Energy during the first quarter worth $439,000. GAMMA Investing LLC bought a new stake in shares of Expand Energy during the first quarter worth $328,000. Fifth Third Bancorp bought a new stake in shares of Expand Energy during the first quarter worth $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Expand Energy in the first quarter valued at about $1,179,000. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group reduced their target price on Expand Energy from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Monday. KeyCorp cut their target price on Expand Energy from $135.00 to $127.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Morgan Stanley boosted their price target on Expand Energy from $134.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Wolfe Research lowered their price target on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Finally, Piper Sandler decreased their target price on Expand Energy from $140.00 to $136.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.77.

Insider Buying and Selling at Expand Energy

In other 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 stock was acquired at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the purchase, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at $15,981,299.90. This trade represents a 1.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer directly owned 61,676 shares in the company, valued at $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. Insiders own 0.17% of the company’s stock.

Expand Energy Stock Up 0.9%

EXE stock opened at $102.68 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $24.45 billion, a PE ratio of 263.29 and a beta of 0.47. Expand Energy Corporation has a 1-year low of $82.69 and a 1-year high of $123.35. The business’s 50 day simple moving average is $99.41 and its 200 day simple moving average is $106.03.

Expand Energy (NASDAQ:EXE) last posted its 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). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

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