Nykredit A S Invests $2.15 Million in Expand Energy Corporation $EXE

Key Points

• Nykredit A/S acquired 23,592 shares of Expand Energy during the second quarter, worth approximately $2.15 million. Institutional investors own 97.93% of the company’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $126.89, despite several recent target-price reductions.
• Expand Energy reported quarterly earnings of $1.33 per share, exceeding estimates of $1.13, while revenue of $2.96 billion fell short of expectations. The company also pays an annualized dividend of $2.30 per share, yielding about 2.3%.

Nykredit A S acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 23,592 shares of the company's stock, valued at approximately $2,151,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew its holdings in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after buying an additional 100 shares in the last quarter. Eastern Bank purchased a new stake in shares of Expand Energy in the second quarter worth about $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after buying an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy in the fourth quarter valued at approximately $30,000. Finally, Ascentis Independent Advisors bought a new position in shares of Expand Energy in the first quarter valued at approximately $32,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Roth Capital reaffirmed a "neutral" rating and set a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. UBS Group cut their price target 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. Johnson Rice lowered shares of Expand Energy from a "buy" rating to an "accumulate" rating and reduced their price target for the company from $135.00 to $125.00 in a research report on Monday, August 17th. The Goldman Sachs Group boosted their price target on shares of Expand Energy from $99.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, August 26th. Finally, Citigroup decreased their price target on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.89.

Expand Energy Price Performance

Shares of NASDAQ EXE opened at $97.91 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $93.09 and a 200-day moving average of $96.91. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 8.46 and a beta of 0.34. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62.

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

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is presently 19.86%.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by insiders.

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.

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