Chevy Chase Trust Holdings LLC Increases Holdings in Expand Energy Corporation $EXE

Chevy Chase Trust Holdings LLC lifted its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 3.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 114,387 shares of the company’s stock after purchasing an additional 4,095 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Expand Energy were worth $13,376,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EXE. Vanguard Group Inc. purchased a new position in shares of Expand Energy during the 1st quarter valued at about $2,973,033,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Expand Energy during the 1st quarter valued at about $1,310,932,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Expand Energy during the 1st quarter valued at about $701,831,000. Wellington Management Group LLP purchased a new position in shares of Expand Energy during the 1st quarter valued at about $624,083,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Expand Energy during the 1st quarter valued at about $518,328,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Price Performance

Shares of EXE stock opened at $100.78 on Monday. The firm has a market cap of $24.00 billion, a P/E ratio of 258.42 and a beta of 0.47. Expand Energy Corporation has a fifty-two week low of $82.69 and a fifty-two week high of $123.35. The business’s 50 day moving average price is $99.45 and its 200-day moving average price is $105.72. 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 (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 14th. Expand Energy’s dividend payout ratio (DPR) is currently 589.74%.

Insider Activity at Expand Energy

In other news, COO Joshua J. Viets purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Domenic J. Dell’osso, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, August 15th. The stock was bought at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the acquisition, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at approximately $15,981,299.90. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EXE. Morgan Stanley decreased their price objective on Expand Energy from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. UBS Group decreased their price target on Expand Energy from $132.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Scotiabank reaffirmed an “outperform” rating on shares of Expand Energy in a research note on Thursday, October 9th. William Blair started coverage on Expand Energy in a research note on Tuesday, October 14th. They issued an “outperform” rating on the stock. Finally, Tudor Pickering & Holt decreased their price target on Expand Energy from $119.00 to $118.00 in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Expand Energy has an average rating of “Moderate Buy” and a consensus price target of $127.62.

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.