VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Expand Energy Corporation $EXE

Key Points

• Virginia Retirement Systems ET Al has acquired 320,200 shares of Expand Energy Corporation, valued at approximately $37.4 million, representing about 0.13% of the company.
• Institutional investors and hedge funds collectively own 97.93% of Expand Energy's stock, reflecting strong interest from major financial entities.
• The company recently announced a quarterly dividend of $0.575 per share, translating to a 2.3% dividend yield.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 320,200 shares of the company's stock, valued at approximately $37,444,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.13% of Expand Energy at the end of the most recent quarter.

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

Insider Activity

In other news, COO Joshua J. Viets acquired 2,000 shares of Expand Energy stock in a transaction dated Monday, August 18th. The stock was bought 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 directly owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the transaction, the chief executive officer directly owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Expand Energy in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price objective on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Piper Sandler dropped their price objective on Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. William Blair assumed coverage on Expand Energy in a report on Tuesday. They issued an "outperform" rating for the company. Finally, Wells Fargo & Company dropped their price objective on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $127.62.

Expand Energy Stock Up 2.2%

Shares of Expand Energy stock opened at $100.78 on Friday. Expand Energy Corporation has a 1 year low of $82.69 and a 1 year high of $123.35. The business has a 50-day moving average of $99.45 and a two-hundred day moving average of $105.76. The company has a market capitalization of $24.00 billion, a P/E ratio of 258.42 and a beta of 0.47. 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 announced its quarterly earnings results 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). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, equities analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 14th. Expand Energy's dividend payout ratio is currently 589.74%.

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.

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