Daiichi Life Insurance Co. Ltd. Makes New $3.34 Million Investment in Expand Energy Corporation $EXE

Key Points

• Daiichi Life Insurance acquired 36,657 shares of Expand Energy in the second quarter, valued at approximately $3.34 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, surpassing the $1.13 consensus estimate, while revenue of $2.96 billion fell short of expectations. CEO Michael Wichterich also purchased 1,000 shares for $88,900.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $127.67. The company also declared a quarterly dividend of $0.575 per share, yielding approximately 2.4% annually.

Daiichi Life Insurance Co. Ltd. acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,657 shares of the company's stock, valued at approximately $3,343,000.

Several other large investors have also recently made changes to their positions in EXE. Sierra Summit Advisors LLC grew its holdings in Expand Energy by 25.9% during the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock valued at $8,523,000 after purchasing an additional 15,904 shares during the period. King Luther Capital Management Corp increased its position in Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company's stock worth $26,443,000 after buying an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after buying an additional 2,414,311 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Expand Energy in the fourth quarter valued at $57,153,000. Finally, Sei Investments Co. lifted its position in shares of Expand Energy by 86.9% during the 1st quarter. Sei Investments Co. now owns 251,984 shares of the company's stock valued at $27,663,000 after buying an additional 117,163 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Wichterich bought 1,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXE. Wolfe Research reiterated an "outperform" rating and set a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Benchmark lowered their price objective on Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. UBS Group dropped their price objective 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. William Blair lowered shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Finally, Roth Capital reiterated a "neutral" rating and issued a $93.00 target price on shares of Expand Energy in a research note 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 issued a Hold rating to the company. According to data from MarketBeat, Expand Energy has a consensus rating of "Moderate Buy" and an average price target of $127.67.

Expand Energy Stock Performance

Shares of EXE stock opened at $96.09 on Monday. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. The company's fifty day simple moving average is $90.93 and its two-hundred day simple moving average is $97.51. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. 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 (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. As a group, 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. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's dividend payout ratio (DPR) 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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