Westpac Banking Corp Invests $1.04 Million in Expand Energy Corporation $EXE

Westpac Banking Corp purchased a new position in Expand Energy Corporation (NASDAQ:EXE) during the third quarter, HoldingsChannel reports. The fund purchased 9,784 shares of the company’s stock, valued at approximately $1,039,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in Expand Energy by 255.6% during the second quarter. Assetmark Inc. now owns 256 shares of the company’s stock worth $30,000 after purchasing an additional 184 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Expand Energy during the 3rd quarter worth $32,000. Smartleaf Asset Management LLC raised its stake in shares of Expand Energy by 85.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after buying an additional 199 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Expand Energy in the 3rd quarter worth about $47,000. Finally, CX Institutional acquired a new stake in Expand Energy in the 3rd quarter valued at about $52,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Stock Up 0.2%

Shares of NASDAQ:EXE opened at $106.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 14.10 and a beta of 0.46. The stock’s 50-day moving average price is $106.52 and its two-hundred day moving average price is $106.04. Expand Energy Corporation has a 12-month low of $91.01 and a 12-month high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.11. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.28 billion. On average, research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, March 5th. Expand Energy’s dividend payout ratio (DPR) is 30.50%.

Analysts Set New Price Targets

EXE has been the subject of a number of research reports. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research report on Monday. TD Cowen upgraded Expand Energy to a “strong-buy” rating in a research report on Monday, February 9th. Benchmark reiterated a “buy” rating on shares of Expand Energy in a report on Wednesday, February 18th. Piper Sandler dropped their price target on Expand Energy from $138.00 to $137.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Finally, Sanford C. Bernstein reduced their price objective on Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Expand Energy presently has a consensus rating of “Buy” and an average price target of $129.92.

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.