Silvant Capital Management LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,825 shares of the company’s stock, valued at approximately $622,000.
Several other institutional investors also recently bought and sold shares of EXE. Capital Research Global Investors increased its position in shares of Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Expand Energy in the 2nd quarter valued at $1,778,004,000. State Street Corp lifted its holdings in shares of Expand Energy by 8.3% during 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 in the last quarter. Oaktree Capital Management LP lifted its holdings in shares of Expand Energy by 3.5% during the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after acquiring an additional 175,114 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after purchasing an additional 2,188,422 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on EXE. UBS Group lowered their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, July 30th. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Barclays decreased their target price on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday. Wolfe Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, Truist Financial raised their target price on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.67.
Expand Energy Stock Up 0.0%
Shares of NASDAQ EXE opened at $96.07 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. The stock’s 50-day simple moving average is $90.78 and its 200-day simple moving average is $97.59. The firm has a market cap of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34.
Expand Energy (NASDAQ:EXE – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities analysts anticipate that Expand Energy Corporation will post 8.92 earnings per share for the current fiscal year.
Expand Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s dividend payout ratio is 19.86%.
Insider Activity at Expand Energy
In related news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was acquired 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 represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
Expand Energy 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.
Featured Articles
- Five stocks we like better than Expand Energy
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE – Free Report).
Receive News & Ratings for Expand Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expand Energy and related companies with MarketBeat.com's FREE daily email newsletter.
