Victory Capital Management Inc. boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) by 192.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,286,361 shares of the company’s stock after purchasing an additional 2,160,979 shares during the quarter. Victory Capital Management Inc.’s holdings in Expand Energy were worth $362,683,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXE. Capital Research Global Investors increased its stake in shares of Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock valued at $1,695,520,000 after acquiring an additional 9,856,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Expand Energy by 862.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company’s stock valued at $133,542,000 after acquiring an additional 1,126,363 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Expand Energy in the 3rd quarter valued at about $115,504,000. Finally, State Street Corp increased its stake in shares of Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after acquiring an additional 1,014,484 shares during the last quarter. 97.93% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on EXE. Stephens upped their price target on Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research note on Tuesday, May 26th. Piper Sandler upped their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Finally, Benchmark upped their price target on Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.45.
Expand Energy Trading Up 2.0%
NASDAQ:EXE opened at $88.78 on Friday. Expand Energy Corporation has a twelve month low of $86.80 and a twelve month high of $126.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $96.23 and a two-hundred day moving average price of $104.55. The company has a market cap of $21.24 billion, a P/E ratio of 6.62 and a beta of 0.33.
Expand Energy (NASDAQ:EXE – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts expect that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.
Expand Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s dividend payout ratio is 17.15%.
Insider Buying and Selling
In other news, CFO Marcel Teunissen purchased 2,000 shares of Expand Energy stock in a transaction on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $93.36 per share, with a total value of $93,360.00. Following the transaction, the chief executive officer owned 84,498 shares in the company, valued at approximately $7,888,733.28. The trade was a 1.20% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.22% of the company’s stock.
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.
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