Readystate Asset Management LP purchased a new stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 113,091 shares of the company’s stock, valued at approximately $10,313,000.
Other hedge funds also recently made changes to their positions in the company. Siemens Fonds Invest GmbH raised its position in Expand Energy by 6.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after purchasing an additional 88 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of 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. Northwestern Mutual Wealth Management Co. grew its stake in shares of Expand Energy by 2.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,377 shares of the company’s stock valued at $490,000 after purchasing an additional 105 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Expand Energy by 25.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock valued at $61,000 after purchasing an additional 110 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Expand Energy by 4.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock valued at $286,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on EXE shares. Morgan Stanley decreased their price target on Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Freedom Broker raised shares of Expand Energy to a “strong-buy” rating in a report on Thursday. Barclays lowered their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. The Goldman Sachs Group raised their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.89.
Insider Activity
In other news, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.
Expand Energy Stock Performance
NASDAQ:EXE opened at $97.91 on Monday. The company has a market capitalization of $22.67 billion, a PE ratio of 8.46 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The stock has a fifty day simple moving average of $92.88 and a 200-day simple moving average of $96.95.
Expand Energy (NASDAQ:EXE – Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. On average, equities research analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 13th. Expand Energy’s payout ratio is currently 19.86%.
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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