Saudi Central Bank Grows Stock Holdings in Expand Energy Corporation $EXE

Saudi Central Bank grew its position in Expand Energy Corporation (NASDAQ:EXE) by 91.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,828 shares of the company’s stock after buying an additional 8,037 shares during the period. Saudi Central Bank’s holdings in Expand Energy were worth $1,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp lifted its position in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank purchased a new position in Expand Energy in the second quarter worth $27,000. SJS Investment Consulting Inc. increased its position 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 worth $28,000 after purchasing an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Expand Energy during the fourth quarter worth $30,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Expand Energy during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Activity

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Expand Energy Price Performance

Shares of EXE opened at $98.19 on Wednesday. The firm has a market capitalization of $22.73 billion, a PE ratio of 8.48 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The company’s fifty day moving average price is $93.23 and its 200-day moving average price is $96.90.

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. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. On average, equities research analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy’s dividend payout ratio is currently 19.86%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EXE. Wolfe Research reissued an “outperform” rating and issued a $114.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Citigroup reduced their target price on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Truist Financial increased their price target on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group lowered their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Barclays dropped their price target on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Expand Energy presently has an average rating of “Moderate Buy” and a consensus target price of $126.89.

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.