Expand Energy Corporation $EXE Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Expand Energy Corporation (NASDAQ:EXE) by 201.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,674 shares of the company’s stock after acquiring an additional 478,650 shares during the period. Van ECK Associates Corp owned about 0.31% of Expand Energy worth $65,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp grew its holdings in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in shares of Expand Energy in the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after purchasing an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Expand Energy in the 4th quarter valued at about $30,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Expand Energy in the 1st quarter valued at about $32,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

Shares of EXE opened at $98.16 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The firm has a 50-day simple moving average of $91.85 and a 200-day simple moving average of $97.15. The company has a market capitalization of $22.72 billion, a price-to-earnings ratio of 8.48 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 10.33% and a net margin of 20.46%. On average, equities research analysts anticipate that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is 19.86%.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Capital reaffirmed a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. UBS Group decreased their price objective on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Benchmark lowered their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Citigroup cut their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.