Korea Investment CORP Takes Position in Expand Energy Corporation $EXE

Korea Investment CORP acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 171,989 shares of the company’s stock, valued at approximately $15,684,000. Korea Investment CORP owned approximately 0.07% of Expand Energy as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. EP Wealth Advisors LLC bought a new position in Expand Energy in the 2nd quarter valued at about $465,000. Ieq Capital LLC acquired a new position in Expand Energy during the 2nd quarter valued at about $13,456,000. Callan Family Office LLC bought a new stake in shares of Expand Energy during the 2nd quarter worth about $431,000. Allworth Financial LP bought a new stake in shares of Expand Energy during the 2nd quarter worth about $456,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Expand Energy in the 2nd quarter worth approximately $844,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $96.09 on Monday. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average price of $90.93 and a 200 day moving average price of $97.51.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. On average, research analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s payout ratio is presently 19.86%.

Analyst Upgrades and Downgrades

EXE has been the subject of several recent analyst reports. Roth Capital reiterated a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Benchmark cut their target price on Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. UBS Group decreased their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Truist Financial lifted their price target on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Insider Activity

In related news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction dated 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 completion of the acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by company insiders.

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.