19,970 Shares in Expand Energy Corporation $EXE Purchased by Bank of Nova Scotia

Bank of Nova Scotia purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,970 shares of the company’s stock, valued at approximately $1,821,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Union Bankshares Corp lifted its stake in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after acquiring an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy during the fourth quarter worth approximately $30,000. Ascentis Independent Advisors acquired a new position in Expand Energy in the 1st quarter valued at $32,000. Finally, Eastern Bank acquired a new stake in Expand Energy during the 2nd quarter worth $27,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXE has been the subject of several research reports. Benchmark dropped their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. The Goldman Sachs Group lifted their price objective on Expand Energy from $99.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup lowered their price objective on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and dropped their target price for the company from $135.00 to $125.00 in a report on Monday, August 17th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Expand Energy has an average rating of “Moderate Buy” and a consensus target price of $126.89.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This 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 hyperlink. Company insiders own 0.22% of the company’s stock.

Expand Energy Trading Up 2.0%

Shares of Expand Energy stock opened at $96.57 on Thursday. The stock has a 50 day moving average of $91.40 and a 200 day moving average of $97.23. 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 firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 8.34 and a beta of 0.34. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62.

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

Expand Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s payout ratio is 19.86%.

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.