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Allspring Global Investments Holdings LLC increased its position in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,136 shares of the company’s stock after purchasing an additional 587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Expand Energy were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in EXE. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Expand Energy during the 1st quarter worth $3,757,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Expand Energy in the first quarter valued at about $1,179,000. Wedbush Securities Inc. acquired a new position in shares of Expand Energy in the first quarter valued at about $210,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Expand Energy in the first quarter valued at about $1,383,000. Finally, Bessemer Group Inc. bought a new position in Expand Energy during the first quarter worth about $75,000. 97.93% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Mizuho set a $136.00 price objective on shares of Expand Energy in a report on Monday, September 15th. Siebert Williams Shank cut their price target on Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Scotiabank restated an “outperform” rating on shares of Expand Energy in a research note on Thursday, October 9th. Wolfe Research cut their target price on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company upgraded Expand Energy to a “hold” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Expand Energy presently has a consensus rating of “Moderate Buy” and an average target price of $127.62.
Insider Transactions at Expand Energy
In other news, COO Joshua J. Viets acquired 2,000 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer directly owned 61,676 shares of the company’s stock, valued at $5,684,060.16. This represents a 3.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Domenic J. Dell’osso, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the transaction, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.
Expand Energy Stock Down 1.6%
EXE stock opened at $104.39 on Thursday. The firm has a 50-day moving average price of $99.99 and a 200-day moving average price of $105.76. Expand Energy Corporation has a 12 month low of $82.69 and a 12 month high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $24.86 billion, a P/E ratio of 267.67 and a beta of 0.47.
Expand Energy (NASDAQ:EXE – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Expand Energy had a return on equity of 5.76% and a net margin of 2.41%.The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.2%. Expand Energy’s payout ratio is currently 589.74%.
About Expand Energy
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.
Further Reading
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