261,100 Shares in Expand Energy Corporation $EXE Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems purchased 261,100 shares of Expand Energy, valued at approximately $23.8 million, giving it a 0.11% stake. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a generally positive outlook, with Expand Energy receiving a “Moderate Buy” consensus rating and an average price target of $126.89, above its recent $97.91 share price.
• Expand Energy reported quarterly EPS of $1.33, beating expectations of $1.13, and pays a quarterly dividend of $0.575, representing a 2.3% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 261,100 shares of the company's stock, valued at approximately $23,810,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.11% of Expand Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its position 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 valued at $26,000 after buying an additional 100 shares during the period. Eastern Bank bought a new position in shares of Expand Energy during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its holdings in shares of Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after buying an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy in the fourth quarter worth approximately $30,000. Finally, Ascentis Independent Advisors bought a new stake in shares of Expand Energy during the 1st quarter worth approximately $32,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Wichterich purchased 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 transaction, the chief executive officer owned 85,498 shares of the company's stock, valued at $7,600,772.20. This 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 can be accessed through this link. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXE. Morgan Stanley dropped their price objective on Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. The Goldman Sachs Group increased their target price on Expand Energy from $99.00 to $113.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Benchmark decreased their target price on Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Citigroup lowered their target price on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, UBS Group cut their price target on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.89.

Expand Energy Stock Performance

Expand Energy stock opened at $97.91 on Tuesday. 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 company has a market capitalization of $22.67 billion, a PE ratio of 8.46 and a beta of 0.34. The company has a 50 day moving average price of $93.09 and a 200-day moving average price of $96.91. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. The company 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%. As a group, equities analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 13th. Expand Energy's dividend payout ratio is currently 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.

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