Primecap Management Co. CA Makes New $29.68 Million Investment in Expand Energy Corporation $EXE

Primecap Management Co. CA bought a new position in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 325,447 shares of the company’s stock, valued at approximately $29,678,000. Primecap Management Co. CA owned approximately 0.14% of Expand Energy at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EXE. Siemens Fonds Invest GmbH lifted its stake in Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock worth $147,000 after purchasing an additional 88 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake 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 purchasing an additional 100 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Expand Energy by 25.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock valued at $61,000 after purchasing an additional 110 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Expand Energy by 4.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock worth $286,000 after purchasing an additional 111 shares during the period. Finally, Root Financial Partners LLC raised its holdings in shares of Expand Energy by 25.8% during the fourth quarter. Root Financial Partners LLC now owns 561 shares of the company’s stock worth $62,000 after purchasing an additional 115 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group increased their price objective on shares of Expand Energy from $99.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Morgan Stanley cut their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Finally, Truist Financial upped their target price on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.89.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Expand Energy Trading Up 2.0%

Shares of NASDAQ:EXE opened at $96.57 on Thursday. The company has a market cap of $22.36 billion, a PE ratio of 8.34 and a beta of 0.34. The company’s 50-day moving average price is $91.40 and its 200 day moving average price is $97.23. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE) last posted its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Expand Energy Announces Dividend

The firm 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 is Thursday, August 13th. Expand Energy’s payout ratio is 19.86%.

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.