Public Employees Retirement System of Ohio acquired a new stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 77,635 shares of the company’s stock, valued at approximately $7,080,000.
A number of other large investors have also modified their holdings of the company. Siemens Fonds Invest GmbH boosted its stake in shares of Expand Energy by 6.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock worth $147,000 after acquiring an additional 88 shares in the last quarter. Atlantic Union Bankshares Corp increased 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in Expand Energy by 25.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock worth $61,000 after purchasing an additional 110 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Expand Energy by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock worth $286,000 after purchasing an additional 111 shares during the period. Finally, Root Financial Partners LLC boosted its position in Expand Energy by 25.8% during the fourth quarter. Root Financial Partners LLC now owns 561 shares of the company’s stock worth $62,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on EXE shares. Citigroup dropped 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. Morgan Stanley decreased their target price on Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. UBS Group dropped their price target on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their price target for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Finally, Roth Capital restated a “neutral” rating and set a $93.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.89.
Expand Energy Stock Performance
NASDAQ:EXE opened at $99.98 on Wednesday. The company’s 50-day moving average price is $92.27 and its 200-day moving average price is $97.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market cap of $23.15 billion, a P/E ratio of 8.63 and a beta of 0.34. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62.
Expand Energy (NASDAQ:EXE – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 20.46% and a return on equity of 10.33%. On average, sell-side analysts forecast 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.
Insider Activity at Expand Energy
In other news, CEO Michael Wichterich purchased 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.
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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