Mirae Asset Global Investments Co. Ltd. Has $3.05 Million Holdings in Expand Energy Corporation $EXE

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Expand Energy Corporation by 11.1%, now owning 26,056 shares valued at approximately $3.05 million.
• Expand Energy Corporation recently reported a net margin of 2.41% and revenue of $3.69 billion for the last quarter, surpassing the consensus estimate of $2.09 billion.
• The company declared a quarterly dividend of $0.575 per share, which represents an annualized dividend yield of 2.1%.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,056 shares of the company's stock after acquiring an additional 2,613 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Expand Energy were worth $3,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. acquired a new position in Expand Energy in the first quarter valued at about $27,000. Transamerica Financial Advisors LLC acquired a new position in Expand Energy in the first quarter valued at about $27,000. First Horizon Advisors Inc. acquired a new position in Expand Energy in the first quarter valued at about $28,000. Quarry LP acquired a new position in Expand Energy in the first quarter valued at about $28,000. Finally, Cheviot Value Management LLC acquired a new position in Expand Energy in the first quarter valued at about $29,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Trading Up 1.2%

Shares of NASDAQ:EXE opened at $109.01 on Wednesday. The company's 50-day moving average price is $99.27 and its two-hundred day moving average price is $106.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. Expand Energy Corporation has a one year low of $82.69 and a one year high of $123.35. The stock has a market capitalization of $25.96 billion, a PE ratio of 279.52 and a beta of 0.47.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.76% and a net margin of 2.41%.The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given 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 yield of 2.1%. Expand Energy's payout ratio is 589.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EXE shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Expand Energy in a research note on Saturday, September 27th. The Goldman Sachs Group reduced their target price on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Capital One Financial reduced their target price on shares of Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Wells Fargo & Company reduced 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. Finally, Bernstein Bank reduced their target price on shares of Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Insider Activity

In other news, COO Joshua J. Viets bought 2,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were bought at an average cost 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the company's stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the acquisition, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. This trade represents a 1.52% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.

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.

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