Insider Buying: Expand Energy (NASDAQ:EXE) CEO Buys 1,000 Shares of Stock

Expand Energy Corporation (NASDAQ:EXE) CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Michael Wichterich also recently made the following trade(s):

• On Thursday, June 4th, Michael Wichterich purchased 1,000 shares of Expand Energy stock. The stock was acquired at an average cost of $93.36 per share, with a total value of $93,360.00.

Expand Energy Stock Down 1.0%

EXE traded down $0.88 on Monday, reaching $87.90. The company’s stock had a trading volume of 3,970,803 shares, compared to its average volume of 3,634,510. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 6.55 and a beta of 0.33. Expand Energy Corporation has a 1 year low of $86.80 and a 1 year high of $126.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day moving average is $96.23 and its 200 day moving average is $104.46.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. As a group, research analysts forecast that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s dividend payout ratio is currently 17.15%.

Institutional Trading of Expand Energy

A number of hedge funds have recently modified their holdings of EXE. Capital Research Global Investors lifted its holdings in shares of Expand Energy by 161.5% in the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock valued at $1,695,520,000 after purchasing an additional 9,856,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock valued at $493,890,000 after purchasing an additional 2,188,422 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after acquiring an additional 2,160,979 shares in the last quarter. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of Expand Energy during the fourth quarter worth $145,633,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens upped their price objective on Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings lowered Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. Morgan Stanley decreased their price target on Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, May 22nd. Truist Financial reaffirmed a “buy” rating and set a $134.00 price target (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Finally, Benchmark increased their price target on Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.45.

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.