Amundi Acquires 54,218 Shares of Expand Energy Corporation $EXE

Key Points

• Amundi increased its Expand Energy stake by 5.7% in the second quarter, purchasing 54,218 shares to own 1,006,632 shares valued at approximately $91.8 million. Institutional investors collectively hold 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, exceeding the $1.13 analyst consensus, while revenue totaled $2.96 billion versus estimates of $3.05 billion. The company also pays a $0.575 quarterly dividend, representing a 2.4% annual yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $127.16, despite some recent target reductions. CEO Michael Wichterich also bought 1,000 shares at $88.90 each in June.

Amundi increased its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 5.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,006,632 shares of the company's stock after buying an additional 54,218 shares during the period. Amundi owned about 0.43% of Expand Energy worth $91,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EXE. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Expand Energy in the 2nd quarter valued at $23,810,000. California State Teachers Retirement System raised its holdings in Expand Energy by 9,116.8% in the second quarter. California State Teachers Retirement System now owns 25,499,733 shares of the company's stock worth $2,325,321,000 after purchasing an additional 25,223,067 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Expand Energy during the second quarter valued at about $10,313,000. HB Wealth Management LLC lifted its position in shares of Expand Energy by 6.1% during the second quarter. HB Wealth Management LLC now owns 8,478 shares of the company's stock valued at $773,000 after buying an additional 486 shares during the last quarter. Finally, Saudi Central Bank boosted its holdings in shares of Expand Energy by 91.4% in the 2nd quarter. Saudi Central Bank now owns 16,828 shares of the company's stock valued at $1,535,000 after buying an additional 8,037 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company's stock.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company's stock.

Expand Energy Stock Performance

EXE opened at $96.62 on Thursday. The company has a market cap of $22.37 billion, a P/E ratio of 8.34 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average price is $93.37 and its 200-day moving average price is $96.85. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued 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 business had revenue of $2.96 billion for the quarter, compared to analyst estimates 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 anticipate that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXE. Weiss Ratings downgraded shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Freedom Broker upgraded shares of Expand Energy to a "strong-buy" rating in a research note on Thursday, September 3rd. Benchmark cut their price target on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. 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. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $127.16.

Expand Energy Company Profile

Expand Energy Corporation NASDAQ: EXE is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company's operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.

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