Hsbc Holdings PLC Buys 166,647 Shares of Expand Energy Corporation $EXE

Hsbc Holdings PLC boosted its stake in Expand Energy Corporation (NASDAQ:EXE) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,107,812 shares of the company’s stock after purchasing an additional 166,647 shares during the period. Hsbc Holdings PLC’s holdings in Expand Energy were worth $101,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXE. Capital Research Global Investors boosted its stake in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after purchasing an additional 5,291,948 shares during the period. BlackRock Inc. purchased a new position in shares of Expand Energy in the second quarter worth $1,778,004,000. State Street Corp raised its holdings in Expand Energy by 8.3% during the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after buying an additional 1,014,484 shares during the last quarter. Oaktree Capital Management LP raised its holdings in Expand Energy by 3.5% during the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after buying an additional 175,114 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock valued at $493,890,000 after buying an additional 2,188,422 shares during the period. Institutional investors own 97.93% of the company’s stock.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EXE has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Wolfe Research reiterated an “outperform” rating and set a $114.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Morgan Stanley dropped their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. The Goldman Sachs Group raised their target price on Expand Energy from $99.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Roth Capital reaffirmed a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Expand Energy presently has an average rating of “Moderate Buy” and an average target price of $126.89.

Expand Energy Stock Performance

NASDAQ:EXE opened at $97.91 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $92.88 and its 200 day simple moving average is $96.95. The stock has a market cap of $22.67 billion, a P/E ratio of 8.46 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) last posted its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. The firm 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%. As a group, research analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 13th. Expand Energy’s dividend payout ratio is presently 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.