Wellington Management Group LLP cut its stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,816 shares of the company’s stock after selling 64,490 shares during the period. Wellington Management Group LLP owned about 0.16% of Expand Energy worth $34,271,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of EXE. Atlantic Union Bankshares Corp increased its stake in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Eastern Bank purchased a new position in shares of Expand Energy in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position in shares of Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $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 4th quarter valued at about $30,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Expand Energy during the first quarter valued at about $32,000. Institutional investors own 97.93% of the company’s stock.
Insider Activity at Expand Energy
In other news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, with a total value 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 $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by insiders.
Expand Energy Stock Performance
NASDAQ EXE opened at $97.91 on Friday. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 8.46 and a beta of 0.34. The stock has a 50-day moving average of $92.88 and a 200 day moving average of $97.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62.
Expand Energy (NASDAQ:EXE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, August 13th. Expand Energy’s payout ratio is 19.86%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on EXE shares. UBS Group cut their target price on Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Benchmark reduced their price target on Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. The Goldman Sachs Group boosted their price target on Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Citigroup dropped their price objective on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Barclays cut their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Two research 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.com, Expand Energy presently has a consensus rating of “Moderate Buy” and an average target price of $126.89.
Check Out Our Latest Analysis on Expand Energy
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.
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