Bank of New York Mellon Corp Sells 313,050 Shares of Expand Energy Corporation $EXE

Bank of New York Mellon Corp lowered its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621,463 shares of the company’s stock after selling 313,050 shares during the period. Bank of New York Mellon Corp’s holdings in Expand Energy were worth $306,554,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Harbour Investments Inc. purchased a new stake in Expand Energy during the 1st quarter worth about $27,000. Transamerica Financial Advisors LLC purchased a new position in Expand Energy during the 1st quarter valued at about $27,000. First Horizon Advisors Inc. bought a new stake in shares of Expand Energy during the first quarter valued at about $28,000. Quarry LP purchased a new stake in shares of Expand Energy in the first quarter worth about $28,000. Finally, Cheviot Value Management LLC purchased a new stake in Expand Energy in the first quarter valued at approximately $29,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Performance

NASDAQ EXE opened at $110.05 on Wednesday. The company has a 50-day simple moving average of $101.72 and a two-hundred day simple moving average of $105.90. Expand Energy Corporation has a 12-month low of $85.05 and a 12-month high of $123.35. The firm has a market cap of $26.21 billion, a price-to-earnings ratio of 31.26 and a beta of 0.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%.The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.98 billion. On average, equities analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be issued a $0.575 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy’s dividend payout ratio (DPR) is currently 65.34%.

Analyst Ratings Changes

EXE has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Scotiabank reiterated an “outperform” rating on shares of Expand Energy in a research report on Thursday, October 9th. William Blair assumed coverage on Expand Energy in a research report on Tuesday, October 14th. They set an “outperform” rating on the stock. Siebert Williams Shank dropped their price target on Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Finally, UBS Group upped their price objective on Expand Energy from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $128.24.

Insider Buying and Selling at Expand Energy

In other news, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, August 15th. The shares were acquired at an average price of $95.86 per share, with a total value of $239,650.00. Following the acquisition, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joshua J. Viets acquired 2,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the transaction, the chief operating officer directly owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is owned by 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.