Expand Energy Corporation $EXE Stock Position Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Expand Energy Corporation by 20.3%, now holding 27,093 shares worth approximately $3.17 million.
• A significant portion of Expand Energy's ownership is held by institutional investors, with 97.93% of the stock controlled by various institutional funds.
• Expand Energy announced a quarterly dividend of $0.575 per share, representing an annual yield of 2.3% as of the most recent payout.

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 20.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,093 shares of the company's stock after buying an additional 4,579 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Expand Energy were worth $3,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXE. Harbour Investments Inc. purchased a new position in shares of Expand Energy during the first quarter worth about $27,000. Transamerica Financial Advisors LLC acquired a new stake in Expand Energy in the first quarter valued at about $27,000. First Horizon Advisors Inc. acquired a new stake in Expand Energy in the first quarter valued at about $28,000. Quarry LP acquired a new stake in Expand Energy in the first quarter valued at about $28,000. Finally, Cheviot Value Management LLC acquired a new stake in Expand Energy in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Insider Buying and Selling at Expand Energy

In related news, CEO Domenic J. Dell'osso, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the purchase, the chief executive officer directly owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. This represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joshua J. Viets purchased 2,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $92.16 per share, with a total value of $184,320.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.

Expand Energy Price Performance

Shares of Expand Energy stock traded up $2.64 during trading on Tuesday, hitting $100.90. 1,481,652 shares of the company were exchanged, compared to its average volume of 3,693,131. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a fifty-two week low of $77.41 and a fifty-two week high of $123.35. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 258.72 and a beta of 0.46. The firm has a 50 day moving average price of $98.42 and a 200 day moving average price of $106.06.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (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 company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. On average, equities analysts expect that Expand Energy Corporation will post 1.33 earnings per share 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 issued a $0.575 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's payout ratio is 589.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Siebert Williams Shank reduced their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Tudor Pickering & Holt reduced their price objective on shares of Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. Capital One Financial reduced their price objective on shares of Expand Energy from $105.00 to $101.00 in a research report on Thursday, July 3rd. Scotiabank restated an "outperform" rating on shares of Expand Energy in a research report on Wednesday, August 13th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $150.00 price target (up from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $127.46.

Expand Energy 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.