Rakuten Investment Management Inc. Buys New Position in Expand Energy Corporation $EXE

Key Points

• Rakuten Investment Management purchased 39,196 shares of Expand Energy worth approximately $3.43 million, while institutional investors collectively own 97.93% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $126.89, above the stock’s recent $98.16 price.
• Expand Energy exceeded quarterly earnings expectations with $1.33 in EPS versus the $1.13 consensus estimate and declared a quarterly dividend of $0.575, representing a 2.3% annualized yield.

Rakuten Investment Management Inc. purchased a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 39,196 shares of the company's stock, valued at approximately $3,431,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Expand Energy during the 2nd quarter worth $1,778,004,000. Capital Research Global Investors grew its position in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock valued at $2,345,303,000 after acquiring an additional 5,291,948 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Expand Energy in the 2nd quarter worth approximately $267,109,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Expand Energy by 192.0% in the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company's stock valued at $362,683,000 after purchasing an additional 2,160,979 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial lifted their target price on shares of Expand Energy from $117.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley cut their price target on shares of Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Roth Capital reaffirmed a "neutral" rating and set a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. The Goldman Sachs Group lifted their price objective on Expand Energy from $99.00 to $113.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Citigroup lowered their target price on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.89.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the business's stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company's stock.

Expand Energy Price Performance

Shares of NASDAQ EXE opened at $98.16 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62. The firm's fifty day moving average is $91.85 and its 200 day moving average is $97.11. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 8.48 and a beta of 0.34.

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

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is 19.86%.

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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