Russell Investments Group Ltd. Boosts Stock Holdings in Expand Energy Corporation $EXE

Key Points

• Russell Investments raised its stake in Expand Energy (EXE) by 33.3% in Q3, buying 96,910 shares to hold 388,315 shares worth about $41.26 million (≈0.16% of the company).
• CEO Michael Wichterich bought 2,000 shares at $107.50, increasing his holding to 83,498 shares, while institutional investors own roughly 97.93% of the stock and insiders own 0.19%.
• Expand Energy reported an EPS beat ($2.00 vs. $1.89) and revenue of $3.27B (vs. $2.28B est.), announced a quarterly dividend of $0.575 ($2.30 annual, 2.1% yield), and carries a consensus analyst rating of Buy with a $130.38 price target.

Russell Investments Group Ltd. grew its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 388,315 shares of the company's stock after purchasing an additional 96,910 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of Expand Energy worth $41,257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Expand Energy by 2.4% during the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company's stock valued at $2,965,510,000 after purchasing an additional 646,330 shares in the last quarter. Geode Capital Management LLC raised its stake in Expand Energy by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,812,172 shares of the company's stock worth $677,029,000 after buying an additional 170,222 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Expand Energy by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,396,701 shares of the company's stock worth $631,090,000 after buying an additional 740,502 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Expand Energy by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,818,936 shares of the company's stock worth $329,646,000 after buying an additional 157,363 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Expand Energy by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,279,315 shares of the company's stock worth $242,166,000 after buying an additional 10,597 shares during the period. Hedge funds and other institutional investors own 97.93% of the company's stock.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich purchased 2,000 shares of the firm's stock in a transaction on Friday, March 6th. The stock was bought at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, the chief executive officer owned 83,498 shares in the company, valued at $8,976,035. This represents a 2.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EXE has been the topic of a number of analyst reports. UBS Group cut their price target on Expand Energy from $150.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Benchmark upped their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Sanford C. Bernstein dropped their price objective on Expand Energy from $145.00 to $144.00 and set an "outperform" rating on the stock in a research report on Monday, January 5th. Mizuho lifted their target price on Expand Energy from $136.00 to $142.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $141.00 target price on shares of Expand Energy in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $130.38.

Expand Energy Price Performance

Shares of EXE opened at $108.58 on Thursday. The company has a 50 day moving average of $106.01 and a two-hundred day moving average of $106.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. The company has a market cap of $26.10 billion, a price-to-earnings ratio of 14.40 and a beta of 0.47.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.28 billion. As a group, analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, March 5th. Expand Energy's payout ratio is 30.50%.

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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