The Manufacturers Life Insurance Company Acquires 9,477 Shares of Expand Energy Corporation $EXE

The Manufacturers Life Insurance Company increased its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,935 shares of the company’s stock after buying an additional 9,477 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Expand Energy worth $28,317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp raised its stake in shares of Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after purchasing an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Expand Energy during the fourth quarter valued at approximately $30,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Expand Energy in the first quarter valued at approximately $32,000. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

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

Analysts Set New Price Targets

Several research analysts recently weighed in on EXE shares. Weiss Ratings cut shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Barclays lowered Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Citigroup lowered their target price on 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 downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley cut their price target on Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Expand Energy Stock Performance

EXE stock opened at $94.03 on Friday. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The business’s fifty day moving average is $89.98 and its 200-day moving average is $98.77. The company has a quick ratio of 1.11, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market cap of $21.77 billion, a P/E ratio of 8.12 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last issued its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Equities research analysts forecast that Expand Energy Corporation will post 8.66 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

Expand Energy News Summary

Here are the key news stories impacting Expand Energy this week:

• Positive Sentiment: Q2 earnings beat estimates: Expand Energy reported adjusted earnings of $1.33 per share, above the $1.13 consensus estimate. Higher production and lower operating costs helped offset weaker revenue and natural-gas prices. Expand Energy Q2 Earnings Beat Estimates on Strong Production
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $117 to $121 and maintained a Buy rating, while Morgan Stanley and UBS also reiterated or issued Buy ratings. These targets imply substantial potential upside from recent trading levels. Truist Raises Expand Energy Price Target Morgan Stanley Keeps Their Buy Rating on Expand Energy Expand Energy Receives a Buy from UBS
• Positive Sentiment: Growth strategy gains traction: The acquisition of Twin Eagle Holdings expands Expand Energy’s gas-marketing platform and could improve access to LNG, power and industrial customers. Management also retained its full-year production target and highlighted the potential for a larger buyback authorization. Expand Energy Sticks to Full-Year Production Goal Expand Energy Agrees to Buy Twin Eagle Holdings
• Neutral Sentiment: Barclays maintained a Hold rating, indicating that some analysts remain cautious despite the earnings beat and strategic expansion. Barclays Keeps Their Hold Rating on Expand Energy
• Negative Sentiment: Lower natural-gas prices, weaker quarterly revenue versus expectations and potential infrastructure constraints remain risks to near-term cash flow and the pace of growth.

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.