Hsbc Holdings PLC Purchases 166,647 Shares of Expand Energy Corporation $EXE

Key Points

• HSBC Holdings increased its Expand Energy stake by 17.7% in the second quarter, adding 166,647 shares for a total holding of 1.11 million shares valued at approximately $101.1 million. Institutional investors collectively own 97.93% of the company.
• Analyst sentiment remains favorable, with Expand Energy receiving a “Moderate Buy” consensus rating and an average price target of $126.89, despite some target-price reductions and one downgrade.
• Expand Energy reported quarterly EPS of $1.33, beating estimates by $0.20, and pays a quarterly dividend of $0.575, equivalent to a 2.3% annualized yield.

Hsbc Holdings PLC increased its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,107,812 shares of the company's stock after acquiring an additional 166,647 shares during the period. Hsbc Holdings PLC owned approximately 0.48% of Expand Energy worth $101,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sierra Summit Advisors LLC increased its stake in Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock worth $8,523,000 after acquiring an additional 15,904 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of Expand Energy by 16.6% during the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company's stock valued at $26,443,000 after acquiring an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Nicholas Investment Partners LP purchased a new position in shares of Expand Energy during the second quarter worth about $3,739,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Expand Energy in the fourth quarter worth approximately $57,153,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, 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 at the SEC website. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EXE shares. Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wolfe Research reissued an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Weiss Ratings lowered shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Freedom Broker upgraded shares of Expand Energy to a "strong-buy" rating in a research report on Thursday. Finally, UBS Group dropped their price objective on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $126.89.

Expand Energy Stock Performance

Shares of NASDAQ EXE opened at $97.91 on Monday. The stock has a market cap of $22.67 billion, a price-to-earnings ratio of 8.46 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The stock's 50-day moving average is $92.88 and its 200 day moving average is $96.95.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm 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. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 13th. Expand Energy's payout ratio is presently 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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