The Manufacturers Life Insurance Company Takes Position in Expand Energy Corporation $EXE

The Manufacturers Life Insurance Company purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 245,914 shares of the company’s stock, valued at approximately $22,424,000.

Several other large investors also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC lifted its holdings in shares of Expand Energy by 25.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after buying an additional 15,904 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Expand Energy by 16.6% during the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock worth $26,443,000 after acquiring an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Expand Energy during the 4th quarter valued at about $57,153,000. Finally, Sei Investments Co. increased its position in shares of Expand Energy by 86.9% during the 1st quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock valued at $27,663,000 after purchasing an additional 117,163 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 1.5%

EXE opened at $98.00 on Friday. The company has a market cap of $22.69 billion, a P/E ratio of 8.46 and a beta of 0.34. The business’s 50-day moving average price is $91.62 and its 200-day moving average price is $97.14. 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 12 month low of $84.99 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. The company had revenue of $2.96 billion during 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%. On average, equities analysts expect that Expand Energy Corporation will post 8.84 EPS for the current 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 given a $0.575 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy’s payout ratio is presently 19.86%.

Insiders Place Their Bets

In related news, CEO Michael Wichterich acquired 1,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

EXE has been the topic of a number of research reports. Weiss Ratings cut Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and reduced their price target for the company from $135.00 to $125.00 in a research report on Monday, August 17th. Morgan Stanley decreased their price target on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Roth Capital reissued a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.89.

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.