Geode Capital Management LLC Has $677.03 Million Stock Position in Expand Energy Corporation $EXE

Geode Capital Management LLC boosted its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,812,172 shares of the company’s stock after acquiring an additional 170,222 shares during the period. Geode Capital Management LLC owned 2.44% of Expand Energy worth $677,029,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in Expand Energy during the first quarter worth about $13,493,000. Allworth Financial LP bought a new stake in Expand Energy during the 1st quarter worth approximately $58,000. Cerity Partners LLC bought a new stake in Expand Energy during the 1st quarter worth approximately $574,000. Mutual of America Capital Management LLC acquired a new stake in Expand Energy during the 1st quarter valued at $8,772,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Expand Energy during the first quarter worth $11,319,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Stock Down 0.6%

Shares of EXE opened at $117.28 on Friday. The firm’s 50 day moving average is $104.67 and its 200-day moving average is $106.47. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $123.35. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $27.93 billion, a PE ratio of 33.32 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.98 billion. Equities research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.30 annualized dividend and a yield of 2.0%. Expand Energy’s dividend payout ratio (DPR) is currently 65.34%.

Analyst Ratings Changes

A number of analysts have recently commented on EXE shares. Scotiabank reiterated an “outperform” rating on shares of Expand Energy in a report on Thursday, October 9th. UBS Group upped their price target on Expand Energy from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Mizuho set a $136.00 price target on shares of Expand Energy in a research note on Monday, September 15th. Raymond James Financial reissued a “strong-buy” rating and issued a $150.00 price objective (up previously from $146.00) on shares of Expand Energy in a research report on Thursday, September 11th. Finally, Piper Sandler reduced their target price on shares of Expand Energy from $140.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.24.

Insider Buying and Selling at Expand Energy

In other news, COO Joshua J. Viets purchased 2,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the transaction, the chief operating officer owned 61,676 shares of the company’s stock, valued at $5,684,060.16. The trade was a 3.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate 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.