71,801 Shares in Expand Energy Corporation $EXE Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, Holdings Channel reports. The firm bought 71,801 shares of the company’s stock, valued at approximately $6,548,000.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its stake in shares of Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank acquired a new stake in shares of Expand Energy in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its stake in Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Expand Energy during the fourth quarter worth $30,000. Finally, Ascentis Independent Advisors acquired a new position in Expand Energy during the first quarter worth $32,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

EXE has been the topic of several research reports. Citigroup lowered their target price 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 cut their price target on Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and decreased their price objective for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. The Goldman Sachs Group increased their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.89.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $98.16 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The business’s fifty day moving average price is $91.85 and its two-hundred day moving average price is $97.15. The stock has a market cap of $22.72 billion, a PE ratio of 8.48 and a beta of 0.34. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. On average, analysts forecast that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.

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.