Man Group plc Makes New Investment in Expand Energy Corporation $EXE

Man Group plc acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the second quarter, Holdings Channel.com reports. The firm acquired 1,625,479 shares of the company’s stock, valued at approximately $148,227,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sierra Summit Advisors LLC grew its stake in shares of Expand Energy by 25.9% during the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after purchasing an additional 15,904 shares during the period. King Luther Capital Management Corp lifted its stake in shares of Expand Energy by 16.6% in the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock valued at $26,443,000 after purchasing an additional 34,132 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Expand Energy during the fourth quarter worth $57,153,000. Finally, Sei Investments Co. boosted its holdings in Expand Energy by 86.9% during the first quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock worth $27,663,000 after buying an additional 117,163 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup dropped their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Roth Capital reissued a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and dropped their target price for the company from $135.00 to $125.00 in a research report on Monday, August 17th. Finally, William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by insiders.

Expand Energy Trading Down 1.7%

Shares of EXE stock opened at $94.66 on Wednesday. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 8.17 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $91.22 and a 200-day simple moving average of $97.32.

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

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a 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%.

Expand Energy 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.