Daiwa Securities Group Inc. trimmed its holdings in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) by 22.2% during the fourth quarter, HoldingsChannel reports. The fund owned 42,013 shares of the company’s stock after selling 12,006 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Expand Energy were worth $4,637,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp grew its holdings in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after acquiring an additional 193 shares during the last quarter. Abound Wealth Management grew its holdings in Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock worth $33,000 after acquiring an additional 267 shares during the last quarter. Assetmark Inc. grew its holdings in Expand Energy by 54.5% during the 4th quarter. Assetmark Inc. now owns 414 shares of the company’s stock worth $46,000 after acquiring an additional 146 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Expand Energy by 85.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after acquiring an additional 199 shares during the last quarter. 97.93% of the stock is owned by institutional investors.
Expand Energy Trading Down 1.8%
NASDAQ:EXE opened at $90.42 on Tuesday. The firm’s fifty day moving average is $97.98 and its 200-day moving average is $105.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a 52 week low of $90.31 and a 52 week high of $126.62. The firm has a market cap of $21.63 billion, a P/E ratio of 6.74 and a beta of 0.33.
Expand Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy’s payout ratio is presently 17.15%.
Insiders Place Their Bets
In related news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $93.36 per share, for a total transaction of $93,360.00. Following the transaction, the chief executive officer directly owned 84,498 shares of the company’s stock, valued at approximately $7,888,733.28. The trade was a 1.20% 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. Also, CFO Marcel Teunissen bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Benchmark boosted their target price on shares of Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Truist Financial reaffirmed a “buy” rating and issued a $134.00 price objective (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. UBS Group upped their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Piper Sandler upped their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Stephens upped their price objective on shares of Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.45.
View Our Latest Stock Report on EXE
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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