Intech Investment Management LLC Trims Holdings in Expand Energy Corporation $EXE

Intech Investment Management LLC decreased its position in Expand Energy Corporation (NASDAQ:EXE) by 31.8% during the second quarter, Holdings Channel reports. The firm owned 5,991 shares of the company’s stock after selling 2,794 shares during the quarter. Intech Investment Management LLC’s holdings in Expand Energy were worth $701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Expand Energy in the first quarter valued at $2,973,033,000. Price T Rowe Associates Inc. MD purchased a new stake in Expand Energy during the 1st quarter worth about $1,310,932,000. T. Rowe Price Investment Management Inc. acquired a new stake in Expand Energy in the 1st quarter valued at about $701,831,000. Geode Capital Management LLC raised its position in Expand Energy by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,812,172 shares of the company’s stock valued at $677,029,000 after purchasing an additional 170,222 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Expand Energy in the 1st quarter valued at about $624,083,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Price Performance

Shares of EXE opened at $118.77 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 0.81. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $123.35. The firm has a 50-day simple moving average of $107.91 and a 200-day simple moving average of $106.96. The company has a market capitalization of $28.29 billion, a price-to-earnings ratio of 33.74 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. On average, equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, November 13th. Expand Energy’s dividend payout ratio is presently 65.34%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXE shares. Morgan Stanley lifted their price target on shares of Expand Energy from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Roth Capital cut shares of Expand Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $98.00 in a research report on Monday, August 18th. UBS Group boosted their target price on shares of Expand Energy from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Piper Sandler raised their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Finally, Wells Fargo & Company raised Expand Energy to a “hold” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Expand Energy presently has a consensus rating of “Moderate Buy” and an average target price of $128.32.

About Expand Energy

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.