Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Expand Energy Corporation $EXE

Sumitomo Mitsui Trust Group Inc. grew its stake in Expand Energy Corporation (NASDAQ:EXE) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 577,150 shares of the company’s stock after purchasing an additional 31,673 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Expand Energy worth $67,492,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EXE. GAMMA Investing LLC acquired a new position in shares of Expand Energy in the first quarter valued at approximately $328,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Expand Energy in the first quarter valued at approximately $1,179,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Expand Energy in the first quarter valued at approximately $1,383,000. Bessemer Group Inc. acquired a new position in shares of Expand Energy in the first quarter valued at approximately $75,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Expand Energy in the first quarter valued at approximately $5,050,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EXE shares. Morgan Stanley dropped their target price on Expand Energy from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. Raymond James Financial reissued a “strong-buy” rating and issued a $150.00 target price (up previously from $146.00) on shares of Expand Energy in a report on Thursday, September 11th. Scotiabank reaffirmed an “outperform” rating on shares of Expand Energy in a report on Thursday, October 9th. Tudor Pickering & Holt dropped their price objective on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Finally, Capital One Financial dropped their price objective on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

Insider Activity

In other Expand Energy news, CEO Domenic J. Dell’osso, Jr. bought 2,500 shares of Expand Energy stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the transaction, the chief executive officer owned 166,715 shares of the company’s stock, valued at $15,981,299.90. This represents a 1.52% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joshua J. Viets bought 2,000 shares of Expand Energy stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer directly owned 61,676 shares of the company’s stock, valued at $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Expand Energy Stock Down 0.7%

Expand Energy stock opened at $103.77 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a fifty-two week low of $82.69 and a fifty-two week high of $123.35. The stock’s fifty day moving average is $100.35 and its two-hundred day moving average is $105.87. The firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 266.08 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

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.