Meiji Yasuda Asset Management Co Ltd. Invests $616,000 in Expand Energy Corporation $EXE

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, HoldingsChannel reports. The firm bought 6,758 shares of the company’s stock, valued at approximately $616,000.

Several other hedge funds also recently added to or reduced their stakes in EXE. Pinnacle Holdings LLC purchased a new stake in Expand Energy in the second quarter valued at about $73,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Expand Energy during the second quarter worth about $3,125,000. Bank of Nova Scotia purchased a new stake in shares of Expand Energy during the second quarter worth about $1,821,000. Compass Financial Management LLC acquired a new position in shares of Expand Energy during the second quarter valued at about $45,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Expand Energy in the 2nd quarter valued at approximately $3,574,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Expand Energy Trading Down 1.7%

Expand Energy stock opened at $94.66 on Wednesday. The stock has a 50-day moving average price of $91.22 and a 200 day moving average price of $97.32. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 8.17 and a beta of 0.34. Expand Energy Corporation has a 52 week low of $84.99 and a 52 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 issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Sell-side analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wolfe Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. 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 research note on Thursday, July 30th. Benchmark decreased their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Truist Financial lifted their price objective on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Expand Energy presently has an average rating of “Moderate Buy” and an average price target of $127.67.

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.