Mitsubishi UFJ Asset Management Co. Ltd. Has $61.55 Million Stake in Expand Energy Corporation $EXE

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Expand Energy by 5.9% in the fourth quarter, holding 560,722 shares valued at about $61.55 million at the end of the period.
• Wall Street sentiment on EXE remains positive, with multiple firms raising price targets and the stock carrying a “Moderate Buy” consensus and average target price of $132.09.
• Expand Energy reported solid quarterly results, beating estimates with $3.83 EPS on $4.40 billion in revenue, and it also announced a quarterly dividend of $0.575 per share.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,722 shares of the company's stock after purchasing an additional 31,218 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Expand Energy worth $61,550,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. raised its stake in shares of Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Expand Energy in the third quarter valued at $32,000. Abound Wealth Management raised its stake in shares of Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company's stock valued at $33,000 after purchasing an additional 267 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Expand Energy by 85.0% during the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company's stock worth $46,000 after acquiring an additional 199 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Expand Energy by 54.5% during the fourth quarter. Assetmark Inc. now owns 414 shares of the company's stock worth $46,000 after acquiring an additional 146 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXE. TD Cowen upgraded Expand Energy to a "strong-buy" rating in a research note on Monday, February 9th. Barclays increased their price objective on Expand Energy from $125.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Stephens increased their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. UBS Group increased their price objective on Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.09.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich bought 2,000 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the acquisition, the chief executive officer owned 83,498 shares of the company's stock, valued at approximately $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at $881,755.92. The trade was a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is currently owned by corporate insiders.

Expand Energy Stock Performance

Expand Energy stock opened at $96.06 on Friday. The stock has a fifty day moving average price of $103.48 and a two-hundred day moving average price of $107.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $22.98 billion, a P/E ratio of 7.16 and a beta of 0.36. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. As a group, analysts anticipate that Expand Energy Corporation will post 8.87 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, May 14th. Expand Energy's dividend payout ratio is presently 17.15%.

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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