651,788 Shares in Expand Energy Corporation $EXE Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 651,788 Expand Energy shares worth approximately $59.4 million, taking a 0.28% stake. Institutional investors collectively own 97.93% of the company.
• Analyst sentiment remains positive but mixed, with Expand Energy holding a “Moderate Buy” consensus rating and an average price target of $127.67; recent target changes ranged from $93 to $125.
• Expand Energy reported quarterly EPS of $1.33, exceeding estimates of $1.13, while revenue of $2.96 billion fell short of forecasts. The company also declared a quarterly dividend of $0.575 per share, implying a 2.4% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 651,788 shares of the company's stock, valued at approximately $59,437,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.28% of Expand Energy as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Atlantic Union Bankshares Corp grew its stake in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after buying an additional 100 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after acquiring an additional 193 shares during the last quarter. SJS Investment Consulting Inc. increased 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 acquiring an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Expand Energy in the 4th quarter valued at $30,000. Finally, Ascentis Independent Advisors acquired a new stake in Expand Energy during the 1st quarter worth $32,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EXE shares. Johnson Rice cut Expand Energy from a "buy" rating to an "accumulate" rating and dropped their price target for the company from $135.00 to $125.00 in a research report on Monday. Truist Financial upped their price target on shares of Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings downgraded Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. Barclays dropped their target price on shares of Expand Energy from $110.00 to $107.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Roth Capital reissued a "neutral" rating and set a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Two investment 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 stock. According to MarketBeat, Expand Energy currently has an average rating of "Moderate Buy" and an average target price of $127.67.

Expand Energy Trading Up 0.6%

Shares of EXE stock opened at $96.03 on Thursday. The firm's 50-day simple moving average is $90.60 and its 200-day simple moving average is $97.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The firm has a market cap of $22.23 billion, a P/E ratio of 8.29 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. As a group, equities analysts forecast that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's payout ratio is currently 19.86%.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by insiders.

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.

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