Deutsche Bank AG Takes Position in Expand Energy Corporation $EXE

Deutsche Bank AG acquired a new position in Expand Energy Corporation (NASDAQ:EXE) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,218,901 shares of the company’s stock, valued at approximately $111,152,000.

Several other large investors have also added to or reduced their stakes in the business. Capital Research Global Investors increased its stake in Expand Energy by 33.2% in the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after buying an additional 5,291,948 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Expand Energy in the second quarter valued at about $267,109,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after acquiring an additional 2,160,979 shares in the last quarter. Finally, Dragoneer Investment Group LLC bought a new stake in Expand Energy during the fourth quarter worth about $145,633,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $88.90 per share, for a total transaction 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. The trade was a 1.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by insiders.

Expand Energy Stock Up 0.6%

Shares of EXE stock opened at $96.03 on Thursday. 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 firm’s 50-day moving average is $90.60 and its 200-day moving average is $97.70. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 8.29 and a beta of 0.34. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts predict that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays decreased their price target on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday. Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and dropped their price objective for the stock from $135.00 to $125.00 in a research note on Monday. Roth Capital reissued a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Citigroup cut their price objective on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. 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 research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.