Meiji Yasuda Asset Management Co Ltd. bought a new position 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 firm bought 6,758 shares of the company’s stock, valued at approximately $616,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors grew its stake in 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 purchasing an additional 5,291,948 shares in the last quarter. BlackRock Inc. bought a new stake in Expand Energy during the 2nd quarter valued at $1,778,004,000. State Street Corp lifted its holdings 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 worth $1,400,621,000 after buying an additional 1,014,484 shares during the period. Oaktree Capital Management LP lifted its holdings in shares of Expand Energy by 3.5% in the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after buying an additional 175,114 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of 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 buying an additional 2,188,422 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Roth Capital restated a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Truist Financial increased their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Johnson Rice downgraded shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their target price for the company from $135.00 to $125.00 in a research report on Monday, August 17th. William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Citigroup reduced their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.
Insider Buying and Selling at Expand Energy
In other news, CEO Michael Wichterich acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased 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 approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
Expand Energy Trading Down 1.7%
Shares of NASDAQ:EXE opened at $94.66 on Wednesday. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. The business’s fifty day simple moving average is $91.22 and its 200-day simple moving average is $97.32. The company has a market capitalization of $21.91 billion, a PE ratio of 8.17 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.
Expand Energy (NASDAQ:EXE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping 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 analysts’ expectations of $3.05 billion. As a group, equities research analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a $0.575 dividend. 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 (DPR) 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.
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