19,970 Shares in Expand Energy Corporation $EXE Acquired by Bank of Nova Scotia

Bank of Nova Scotia bought a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 19,970 shares of the company’s stock, valued at approximately $1,821,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its position in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after buying an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy in the 4th quarter valued at $30,000. Ascentis Independent Advisors purchased a new stake in shares of Expand Energy in the 1st quarter valued at $32,000. Finally, Eastern Bank acquired a new position in Expand Energy during the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 2.0%

Expand Energy stock opened at $96.57 on Thursday. The firm has a market capitalization of $22.36 billion, a P/E ratio of 8.34 and a beta of 0.34. 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 Corporation has a twelve month low of $84.99 and a twelve month high of $126.62. The stock’s fifty day simple moving average is $91.40 and its 200-day simple moving average is $97.23.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. As a group, equities analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

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

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the purchase, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

EXE has been the subject of a number of research analyst reports. Citigroup lowered their target price on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Wolfe Research reiterated an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Roth Capital reissued a “neutral” rating and set a $93.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and lowered their price objective for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Finally, Benchmark dropped their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.89.

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.