Westpac Banking Corp Purchases New Position in Expand Energy Corporation $EXE

Westpac Banking Corp purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,752 shares of the company’s stock, valued at approximately $707,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp grew its position in shares of Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Rakuten Securities Inc. raised its holdings in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Eastern Bank bought a new position in shares of Expand Energy during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its stake in 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 period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Expand Energy in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

Expand Energy Trading Up 0.0%

EXE opened at $96.09 on Friday. The stock has a market cap of $22.24 billion, a PE ratio of 8.30 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $90.93 and a 200-day moving average of $97.58. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.20. The company 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%. Equities research analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s payout ratio is 19.86%.

Analysts Set New Price Targets

Several research firms recently weighed in on EXE. UBS Group cut their price target on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Roth Capital reaffirmed a “neutral” rating and issued a $93.00 target price on shares of Expand Energy in a research report on Wednesday, July 29th. Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and dropped their target price for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Citigroup reduced their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

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.