IFM Investors Pty Ltd Acquires 7,173 Shares of Expand Energy Corporation $EXE

Key Points

• IFM Investors Pty Ltd has raised its stake in Expand Energy Corporation (NASDAQ:EXE) by 24.9%, now owning 35,943 shares worth approximately $4.2 million.
• Expand Energy recently declared a quarterly dividend of $0.575 per share, yielding 2.3%, with a high dividend payout ratio of 589.74%.
• Wall Street analysts maintain a consensus Buy rating for Expand Energy, with a price target averaging $127.46.

IFM Investors Pty Ltd boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 24.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 35,943 shares of the company's stock after acquiring an additional 7,173 shares during the quarter. IFM Investors Pty Ltd's holdings in Expand Energy were worth $4,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXE. Vanguard Group Inc. acquired a new stake in shares of Expand Energy during the 1st quarter valued at about $2,973,033,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Expand Energy during the first quarter worth approximately $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new stake in Expand Energy in the first quarter valued at approximately $701,831,000. Wellington Management Group LLP purchased a new position in Expand Energy in the first quarter worth approximately $624,083,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Expand Energy in the 1st quarter valued at approximately $518,328,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Expand Energy

In other Expand Energy news, COO Joshua J. Viets bought 2,000 shares of Expand Energy stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $92.16 per share, with a total value of $184,320.00. Following the acquisition, the chief operating officer owned 61,676 shares in the company, valued at $5,684,060.16. This trade represents a 3.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer directly owned 166,715 shares in the company, valued at $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Siebert Williams Shank cut their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. KeyCorp decreased their target price on Expand Energy from $135.00 to $127.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Morgan Stanley boosted their price target on Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company lowered their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $127.46.

Expand Energy Stock Performance

Expand Energy stock traded down $0.24 during trading hours on Monday, hitting $98.26. The stock had a trading volume of 3,760,846 shares, compared to its average volume of 3,078,433. The company has a 50-day moving average of $98.42 and a two-hundred day moving average of $106.06. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a fifty-two week low of $77.41 and a fifty-two week high of $123.35. The company has a market cap of $23.40 billion, a PE ratio of 25.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. On average, equities research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 14th. Expand Energy's payout ratio is currently 589.74%.

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.