Ieq Capital LLC acquired a new stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 147,558 shares of the company’s stock, valued at approximately $13,456,000.
Other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp grew its holdings in Expand Energy by 74.6% during the fourth 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 period. Rakuten Securities Inc. lifted its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Eastern Bank acquired a new position in Expand Energy in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted its position in Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after purchasing an additional 205 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Expand Energy in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.
Analyst Ratings Changes
EXE has been the subject of several recent research reports. Benchmark cut their target price 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. Morgan Stanley decreased their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup dropped their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Barclays cut their price objective on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Finally, UBS Group decreased 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 report on Thursday, July 30th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.67.
Expand Energy Stock Up 0.0%
Shares of EXE opened at $96.09 on Friday. 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 Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The stock’s 50 day moving average is $90.93 and its two-hundred day moving average is $97.58. The firm has a market cap of $22.24 billion, a P/E ratio of 8.30 and a beta of 0.34.
Expand Energy (NASDAQ:EXE – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.
Expand Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s payout ratio is presently 19.86%.
Insider Buying and Selling
In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The stock was bought 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 approximately $7,600,772.20. The trade was a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.22% of the company’s stock.
Expand Energy Company 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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