California State Teachers Retirement System Buys 25,223,067 Shares of Expand Energy Corporation $EXE

California State Teachers Retirement System grew its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 9,116.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,499,733 shares of the company's stock after buying an additional 25,223,067 shares during the period. California State Teachers Retirement System owned 11.02% of Expand Energy worth $2,325,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Readystate Asset Management LP acquired a new position in Expand Energy in the second quarter valued at about $10,313,000. HB Wealth Management LLC increased its holdings in shares of Expand Energy by 6.1% in the second quarter. HB Wealth Management LLC now owns 8,478 shares of the company's stock worth $773,000 after acquiring an additional 486 shares in the last quarter. Saudi Central Bank increased its holdings in shares of Expand Energy by 91.4% in the second quarter. Saudi Central Bank now owns 16,828 shares of the company's stock worth $1,535,000 after acquiring an additional 8,037 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of Expand Energy in the 2nd quarter valued at approximately $45,000. Finally, AlphaGrep UK Ltd bought a new stake in Expand Energy during the 2nd quarter worth approximately $691,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Trading Down 2.1%

EXE opened at $94.83 on Friday. The company's 50 day moving average is $93.58 and its 200-day moving average is $96.76. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market cap of $21.95 billion, a P/E ratio of 8.19 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued 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. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Equities research analysts predict that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Expand Energy in a report on Wednesday. They issued a "buy" rating and a $135.00 price target for the company. Johnson Rice lowered Expand Energy from a "buy" rating to an "accumulate" rating and cut their price target for the company from $135.00 to $125.00 in a report on Monday, August 17th. The Goldman Sachs Group upped their price objective on Expand Energy from $99.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Freedom Broker upgraded Expand Energy to a "strong-buy" rating in a research note on Thursday, September 3rd. Finally, Barclays decreased 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 research report on Monday, August 17th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Expand Energy currently has an average 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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