Primecap Management Co. CA Sells 124,905 Shares of Expand Energy Corporation $EXE

Primecap Management Co. CA decreased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,886 shares of the company’s stock after selling 124,905 shares during the quarter. Primecap Management Co. CA’s holdings in Expand Energy were worth $35,578,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Assetmark Inc. grew its holdings in Expand Energy by 255.6% during the 2nd quarter. Assetmark Inc. now owns 256 shares of the company’s stock worth $30,000 after acquiring an additional 184 shares during the period. ESL Trust Services LLC bought a new position in shares of Expand Energy in the 3rd quarter worth $32,000. Smartleaf Asset Management LLC grew its stake in shares of Expand Energy by 85.0% during the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after purchasing an additional 199 shares during the period. Root Financial Partners LLC bought a new stake in Expand Energy in the third quarter valued at about $47,000. Finally, CX Institutional bought a new stake in Expand Energy in the third quarter valued at about $52,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays decreased their target price on Expand Energy from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings upgraded shares of Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research note on Monday. Mizuho increased their target price on shares of Expand Energy from $136.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Benchmark reissued a “buy” rating on shares of Expand Energy in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $129.92.

Expand Energy Price Performance

NASDAQ EXE opened at $106.29 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $25.55 billion, a price-to-earnings ratio of 14.10 and a beta of 0.46. The business has a 50 day simple moving average of $106.52 and a 200 day simple moving average of $106.04. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.11. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $2.30 dividend on an annualized basis and a yield of 2.2%. Expand Energy’s dividend payout ratio is presently 30.50%.

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.