Expand Energy Corporation $EXE Shares Acquired by Capital Research Global Investors

Capital Research Global Investors lifted its stake in Expand Energy Corporation (NASDAQ:EXE) by 161.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,959,335 shares of the company’s stock after purchasing an additional 9,856,576 shares during the period. Capital Research Global Investors owned approximately 6.70% of Expand Energy worth $1,695,520,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Expand Energy by 255.6% during the 2nd quarter. Assetmark Inc. now owns 256 shares of the company’s stock worth $30,000 after acquiring an additional 184 shares in the last quarter. ESL Trust Services LLC acquired a new position in Expand Energy during the third quarter worth $32,000. Smartleaf Asset Management LLC boosted its position in Expand Energy by 85.0% during the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after purchasing an additional 199 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Expand Energy in the third quarter valued at $47,000. Finally, CX Institutional acquired a new stake in Expand Energy in the third quarter valued at $52,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXE. Sanford C. Bernstein cut their price target on Expand Energy from $145.00 to $144.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Citigroup raised their target price on shares of Expand Energy from $118.00 to $125.00 and gave the company a “buy” rating in a report on Friday, December 19th. UBS Group cut their target price on shares of Expand Energy from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $141.00 price target on shares of Expand Energy in a research report on Thursday, February 19th. Finally, Stephens lifted their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $130.38.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $107.87 on Tuesday. The company has a market cap of $25.93 billion, a P/E ratio of 14.31 and a beta of 0.47. The business has a fifty day simple moving average of $106.19 and a 200-day simple moving average of $106.80. Expand Energy Corporation has a 52 week low of $91.01 and a 52 week high of $126.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share for the quarter, topping 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 the consensus estimate of $2.28 billion. Equities research 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, 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 of this dividend is Thursday, March 5th. Expand Energy’s dividend payout ratio (DPR) is 30.50%.

Insiders Place Their Bets

In other news, CEO Michael Wichterich purchased 2,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was bought at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, the chief executive officer directly owned 83,498 shares of the company’s stock, valued at $8,976,035. The trade was a 2.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

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.