Tocqueville Asset Management L.P. bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 436,694 shares of the company’s stock, valued at approximately $39,822,000. Tocqueville Asset Management L.P. owned 0.19% of Expand Energy as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of EXE. Sierra Summit Advisors LLC lifted its holdings in shares of Expand Energy by 25.9% during the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after acquiring an additional 15,904 shares during the period. King Luther Capital Management Corp increased its stake in Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock valued at $26,443,000 after acquiring an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Expand Energy during the fourth quarter valued at approximately $57,153,000. Finally, Sei Investments Co. raised its position in Expand Energy by 86.9% during the first quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock valued at $27,663,000 after purchasing an additional 117,163 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on EXE shares. 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. Weiss Ratings downgraded Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Citigroup reduced their price objective on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and decreased their target price for the company from $135.00 to $125.00 in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned 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 Transactions at Expand Energy
In other news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost 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 of the company’s stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.
Expand Energy Stock Performance
Shares of Expand Energy stock opened at $96.03 on Thursday. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $22.23 billion, a P/E ratio of 8.29 and a beta of 0.34. The company’s 50 day moving average price is $90.60 and its two-hundred day moving average price is $97.70.
Expand Energy (NASDAQ:EXE – Get Free Report) last posted its 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. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.05 billion. On average, equities analysts forecast that Expand Energy Corporation will post 8.92 earnings per share for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. 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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