Expand Energy Corporation $EXE Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Expand Energy Corporation (NASDAQ:EXE) by 94.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,498,905 shares of the company’s stock after purchasing an additional 2,188,422 shares during the quarter. Bank of New York Mellon Corp owned about 1.88% of Expand Energy worth $493,890,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Goehring & Rozencwajg Associates LLC raised its stake in shares of Expand Energy by 36.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 225,860 shares of the company’s stock worth $24,795,000 after purchasing an additional 60,492 shares during the last quarter. Aubrey Capital Management Ltd purchased a new position in Expand Energy in the 1st quarter valued at $362,000. Retirement Planning Group LLC acquired a new position in Expand Energy in the 1st quarter valued at $2,676,000. Schwartz Investment Counsel Inc. increased its stake in Expand Energy by 10.9% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 410,720 shares of the company’s stock valued at $45,089,000 after buying an additional 40,300 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in Expand Energy during the 1st quarter worth $689,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Insider Activity

In related news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcel Teunissen bought 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the acquisition, the chief financial officer owned 9,144 shares of the company’s stock, valued at $881,755.92. This represents a 28.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 4,000 shares of company stock worth $375,120 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on EXE shares. Citigroup reduced their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. William Blair cut shares of Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. UBS Group reduced their price objective on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating for the company in a research report on Friday, July 10th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Finally, Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.19.

Expand Energy Price Performance

Shares of NASDAQ EXE opened at $88.18 on Friday. The firm has a market capitalization of $21.10 billion, a P/E ratio of 6.58 and a beta of 0.34. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The company’s fifty day moving average is $91.46 and its two-hundred day moving average is $100.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. Analysts forecast that Expand Energy Corporation will post 8.4 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend payout ratio is presently 17.15%.

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.