Hsbc Holdings PLC Invests $101.09 Million in Expand Energy Corporation $EXE

Hsbc Holdings PLC acquired a new position 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 fund acquired 1,107,812 shares of the company’s stock, valued at approximately $101,089,000. Hsbc Holdings PLC owned about 0.48% of Expand Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sierra Summit Advisors LLC boosted its stake in Expand Energy by 25.9% during the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after acquiring an additional 15,904 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock worth $26,443,000 after purchasing an additional 34,132 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Expand Energy in the fourth quarter valued at $57,153,000. Finally, Sei Investments Co. raised its holdings in shares of Expand Energy by 86.9% during the first quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock valued at $27,663,000 after purchasing an additional 117,163 shares during the period. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EXE shares. Wolfe Research reissued an “outperform” rating and set a $114.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Barclays decreased their target price on Expand Energy from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Morgan Stanley cut their price target on Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Johnson Rice cut Expand Energy from a “buy” rating to an “accumulate” rating and reduced their price objective for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Finally, Weiss Ratings cut Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Expand Energy currently has an average rating of “Moderate Buy” and a consensus target price of $126.89.

Expand Energy Stock Up 2.0%

Expand Energy stock opened at $96.57 on Thursday. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 8.34 and a beta of 0.34. The firm’s fifty day moving average price is $91.40 and its two-hundred day moving average price is $97.23. The company has a current ratio of 0.96, a quick 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. 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 during the quarter, compared to the consensus estimate of $3.05 billion. On average, 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 business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy’s payout ratio is 19.86%.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

About Expand Energy

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.