Northwestern Mutual Wealth Management Co. Makes New $490,000 Investment in Expand Energy Corporation $EXE

Northwestern Mutual Wealth Management Co. bought a new stake in Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,377 shares of the company’s stock, valued at approximately $490,000.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Expand Energy during the 2nd quarter valued at about $1,778,004,000. Capital Research Global Investors grew its holdings in Expand Energy by 33.2% during the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after buying an additional 5,291,948 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Expand Energy during the 2nd quarter valued at $267,109,000. Victory Capital Management Inc. increased its position in Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after buying an additional 2,160,979 shares in the last quarter. Finally, Dragoneer Investment Group LLC acquired a new position in shares of Expand Energy in the fourth quarter worth $145,633,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael Wichterich acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on EXE shares. 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. 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. Morgan Stanley reduced their price objective on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and lowered their target price for the stock from $135.00 to $125.00 in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Expand Energy has an average rating of “Moderate Buy” and an average price target of $126.89.

Expand Energy Stock Performance

Shares of EXE stock opened at $96.57 on Thursday. 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 one year low of $84.99 and a one year high of $126.62. The company has a 50 day moving average price of $91.40 and a 200 day moving average price of $97.23.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 20.46% and a return on equity of 10.33%. Sell-side analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

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

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.