Meiji Yasuda Asset Management Co Ltd. Invests $719,000 in Expand Energy Corporation $EXE

Key Points

• Meiji Yasuda Asset Management Co Ltd. has acquired a new position in Expand Energy Corporation, purchasing 6,460 shares valued at approximately $719,000 in the first quarter.
• A number of institutional investors have also recently increased their stakes in Expand Energy, contributing to a total of 97.93% of the stock being owned by such entities.
• Analysts have mixed views on Expand Energy, with Roth Capital downgrading the stock from "buy" to "neutral" while others, like Mizuho, have increased their price target, reflecting a consensus rating of "Buy" with an average price target of $127.12.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,460 shares of the company's stock, valued at approximately $719,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC bought a new stake in shares of Expand Energy in the first quarter valued at about $27,000. Harbour Investments Inc. acquired a new stake in Expand Energy in the 1st quarter worth about $27,000. First Horizon Advisors Inc. bought a new stake in Expand Energy in the 1st quarter valued at about $28,000. Quarry LP acquired a new position in shares of Expand Energy during the 1st quarter worth approximately $28,000. Finally, Pinney & Scofield Inc. bought a new position in shares of Expand Energy during the first quarter worth approximately $29,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO Joshua J. Viets purchased 2,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the acquisition, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Expand Energy Price Performance

Shares of Expand Energy stock traded up $0.38 during trading on Friday, reaching $96.22. 1,692,944 shares of the company's stock were exchanged, compared to its average volume of 2,769,963. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a 1-year low of $72.35 and a 1-year high of $123.35. The company has a market cap of $22.91 billion, a P/E ratio of 246.72 and a beta of 0.46. The firm's 50-day moving average price is $99.47 and its 200 day moving average price is $106.03.

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

Expand Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXE. Morgan Stanley boosted their price target on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. The Goldman Sachs Group dropped their price objective on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Wells Fargo & Company cut their target price on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. UBS Group reduced their target price on Expand Energy from $145.00 to $132.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Finally, Barclays boosted their price target on Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $127.69.

About Expand Energy

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.