Korea Investment CORP Purchases 48,727 Shares of Expand Energy Corporation $EXE

Korea Investment CORP raised its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 17.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 326,259 shares of the company’s stock after purchasing an additional 48,727 shares during the quarter. Korea Investment CORP’s holdings in Expand Energy were worth $34,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Phoenix Financial Ltd. purchased a new stake in shares of Expand Energy in the third quarter worth approximately $169,783,000. 59 North Capital Management LP bought a new stake in shares of Expand Energy during the 2nd quarter worth approximately $102,949,000. Victory Capital Management Inc. boosted its holdings in Expand Energy by 288.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,125,382 shares of the company’s stock valued at $119,561,000 after acquiring an additional 835,499 shares during the period. Pacer Advisors Inc. grew its position in Expand Energy by 4,719.7% in the 3rd quarter. Pacer Advisors Inc. now owns 821,571 shares of the company’s stock valued at $87,284,000 after acquiring an additional 804,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Expand Energy by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,396,701 shares of the company’s stock valued at $631,090,000 after acquiring an additional 740,502 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich purchased 2,000 shares of Expand Energy stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $107.50 per share, with a total value of $215,000.00. Following the transaction, the chief executive officer owned 83,498 shares in the company, valued at approximately $8,976,035. The trade was a 2.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Expand Energy Price Performance

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

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.28 billion. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. Equities analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be issued a $0.575 dividend. The ex-dividend date is Thursday, March 5th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. Expand Energy’s dividend payout ratio (DPR) is currently 30.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EXE shares. TD Cowen upgraded Expand Energy to a “strong-buy” rating in a research report on Monday, February 9th. Sanford C. Bernstein cut their price target on shares of Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Piper Sandler reduced their price target 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. Wells Fargo & Company set a $123.00 price objective on shares of Expand Energy in a report on Monday, February 23rd. Finally, Citigroup boosted their price objective on shares of Expand Energy from $118.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy currently has an average rating of “Buy” and a consensus price target of $130.38.

Expand Energy Company 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.