Capital Research Global Investors Raises Stock Position in Expand Energy Corporation $EXE

Capital Research Global Investors raised its stake in Expand Energy Corporation (NASDAQ:EXE) by 161.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,959,335 shares of the company’s stock after acquiring an additional 9,856,576 shares during the quarter. Capital Research Global Investors owned 0.07% of Expand Energy worth $1,695,520,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assetmark Inc. grew its position in Expand Energy by 255.6% in the second quarter. Assetmark Inc. now owns 256 shares of the company’s stock valued at $30,000 after acquiring an additional 184 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Expand Energy in the third quarter worth about $32,000. Smartleaf Asset Management LLC boosted its holdings in Expand Energy by 85.0% in the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock valued at $46,000 after purchasing an additional 199 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Expand Energy during the 3rd quarter valued at approximately $47,000. Finally, CX Institutional acquired a new position in shares of Expand Energy in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on EXE shares. Weiss Ratings upgraded shares of Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Mizuho upped their target price on shares of Expand Energy from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Wells Fargo & Company set a $123.00 price target on Expand Energy in a research note on Monday, February 23rd. Benchmark raised their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Piper Sandler dropped their price objective on shares of Expand Energy from $137.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Expand Energy presently has an average rating of “Buy” and a consensus target price of $130.38.

Insiders Place Their Bets

In other news, CEO Michael Wichterich bought 2,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $107.50 per share, with a total value of $215,000.00. Following the purchase, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Expand Energy Trading Up 1.0%

Shares of NASDAQ:EXE opened at $107.87 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $106.19 and its 200 day moving average price is $106.80. The company has a market cap of $25.93 billion, a PE ratio of 14.31 and a beta of 0.47. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its earnings results on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, March 5th. Expand Energy’s dividend payout ratio is 30.50%.

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.