UniSuper Management Pty Ltd Takes Position in Expand Energy Corporation $EXE

Key Points

• UniSuper Management Pty Ltd has invested approximately $2.73 million in Expand Energy Corporation by acquiring 24,539 shares of its stock in the first quarter.
• Several hedge funds have also made significant investments in Expand Energy, with GAMMA Investing LLC leading by purchasing a position valued at $36.5 million.
• A recent analyst downgrade from Roth Capital reduced Expand Energy's target price from $125.00 to $98.00, while the stock maintains an average "Buy" rating with a consensus target price of $127.12.

UniSuper Management Pty Ltd acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,539 shares of the company's stock, valued at approximately $2,732,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Expand Energy during the first quarter worth $27,000. Harbour Investments Inc. acquired a new stake in shares of Expand Energy during the first quarter worth $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy during the first quarter worth $28,000. Quarry LP acquired a new stake in shares of Expand Energy during the first quarter worth $28,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Expand Energy during the first quarter worth $29,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Insider Buying and Selling

In other news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the acquisition, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the acquisition, the chief operating officer directly owned 61,676 shares of the company's stock, valued at $5,684,060.16. This 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 Stock Up 0.6%

NASDAQ:EXE traded up $0.54 during mid-day trading on Monday, reaching $96.76. The stock had a trading volume of 397,972 shares, compared to its average volume of 3,637,333. The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 247.89 and a beta of 0.46. Expand Energy Corporation has a 1-year low of $72.70 and a 1-year high of $123.35. The stock's 50 day simple moving average is $99.47 and its two-hundred day simple moving average is $106.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Equities analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, August 14th. Expand Energy's payout ratio is presently 589.74%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EXE shares. Capital One Financial lowered their price objective on shares of Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Roth Capital downgraded shares of Expand Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $98.00 in a research note on Monday, August 18th. Wells Fargo & Company reduced their target price on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Finally, Mizuho raised their target price on shares of Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $127.69.

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.