Grantham Mayo Van Otterloo & Co. LLC Acquires 33,700 Shares of Expand Energy Corporation $EXE

Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 108.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,700 shares of the company’s stock after purchasing an additional 33,700 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Expand Energy were worth $6,874,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Expand Energy in the 1st quarter worth about $2,599,000. Ashton Thomas Private Wealth LLC purchased a new stake in Expand Energy during the first quarter worth about $208,000. Focus Partners Wealth purchased a new stake in Expand Energy during the first quarter worth about $205,000. Geneos Wealth Management Inc. bought a new stake in Expand Energy in the first quarter worth about $79,000. Finally, Assetmark Inc. raised its position in Expand Energy by 255.6% in the second quarter. Assetmark Inc. now owns 256 shares of the company’s stock worth $30,000 after acquiring an additional 184 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their target price on shares of Expand Energy from $145.00 to $144.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. TD Cowen raised shares of Expand Energy to a “strong-buy” rating in a report on Monday, February 9th. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research note on Monday, February 23rd. Weiss Ratings raised Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $141.00 target price on shares of Expand Energy in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $130.38.

Insider Transactions at Expand Energy

In other news, CEO Michael Wichterich bought 2,000 shares of the stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the purchase, the chief executive officer directly owned 83,498 shares of the company’s stock, valued at $8,976,035. This trade represents a 2.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Expand Energy Stock Up 1.0%

EXE stock opened at $107.87 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $25.93 billion, a PE ratio of 14.31 and a beta of 0.47. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. The stock has a 50-day simple moving average of $106.19 and a two-hundred day simple moving average of $106.80.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.28 billion. On average, equities analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, March 5th. Expand Energy’s dividend payout ratio is 30.50%.

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.