UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) by 3.4% during the second quarter, Holdings Channel.com reports. The fund owned 2,677,536 shares of the company’s stock after selling 93,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Expand Energy were worth $244,165,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp increased its holdings in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new position in Expand Energy during the second quarter worth $27,000. SJS Investment Consulting Inc. boosted its position in shares of Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after buying an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Expand Energy during the fourth quarter worth $30,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Expand Energy in the first quarter valued at $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.
Expand Energy Stock Performance
NASDAQ:EXE opened at $98.16 on Tuesday. The firm has a market cap of $22.72 billion, a PE ratio of 8.48 and a beta of 0.34. The stock has a fifty day moving average price of $92.04 and a 200 day moving average price of $97.08. Expand Energy Corporation has a 12-month low of $84.99 and a 12-month high of $126.62. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy’s payout ratio is currently 19.86%.
Insider Activity at Expand Energy
In other news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $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 this hyperlink. Corporate insiders own 0.22% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on EXE. Citigroup cut their price objective on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a research report on Wednesday, July 29th. UBS Group lowered their price objective on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Benchmark dropped their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Truist Financial upped their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Expand Energy has a consensus rating of “Moderate Buy” and a consensus target price of $126.89.
Get Our Latest Research Report on Expand Energy
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.
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