Resona Asset Management Co. Ltd. Raises Position in Expand Energy Corporation $EXE

Resona Asset Management Co. Ltd. increased its holdings in Expand Energy Corporation (NASDAQ:EXE) by 45.6% in the second quarter, Holdings Channel.com reports. The firm owned 94,145 shares of the company’s stock after purchasing an additional 29,470 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Expand Energy were worth $11,031,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EXE. Simmons Bank boosted its stake in Expand Energy by 26.2% in the 2nd quarter. Simmons Bank now owns 3,445 shares of the company’s stock worth $403,000 after buying an additional 715 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in shares of Expand Energy by 8.4% during the 2nd quarter. Bridgewater Advisors Inc. now owns 5,641 shares of the company’s stock valued at $660,000 after acquiring an additional 436 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Expand Energy during the 2nd quarter worth about $203,000. Machina Capital S.A.S. lifted its holdings in shares of Expand Energy by 79.7% during the 2nd quarter. Machina Capital S.A.S. now owns 9,279 shares of the company’s stock worth $1,085,000 after acquiring an additional 4,115 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Expand Energy in the second quarter worth approximately $10,758,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Domenic J. Dell’osso, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, August 15th. The shares were purchased at an average price of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares of the company’s stock, valued at $15,981,299.90. This represents a 1.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joshua J. Viets purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This represents a 3.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EXE has been the subject of several research analyst reports. Roth Capital lowered shares of Expand Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $98.00 in a research report on Monday, August 18th. UBS Group raised their target price on Expand Energy from $131.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Expand Energy from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Expand Energy in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Expand Energy to a “hold” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.24.

Expand Energy Trading Up 1.7%

EXE opened at $112.45 on Friday. Expand Energy Corporation has a 12-month low of $91.01 and a 12-month high of $123.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $26.78 billion, a PE ratio of 31.95 and a beta of 0.47. The firm’s fifty day moving average price is $102.59 and its 200 day moving average price is $106.03.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.98 billion. Expand Energy had a net margin of 7.99% and a return on equity of 6.31%. As a group, research analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, November 13th. Expand Energy’s payout ratio is currently 65.34%.

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.