VIRGINIA RETIREMENT SYSTEMS ET Al Invests $23.81 Million in Expand Energy Corporation $EXE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 261,100 shares of the company’s stock, valued at approximately $23,810,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in Expand Energy by 74.6% in 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 in the last quarter. Eastern Bank bought a new stake in Expand Energy during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. boosted its position in Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Expand Energy during the 4th quarter valued at $30,000. Finally, Ascentis Independent Advisors purchased a new position in shares of Expand Energy in the 1st quarter valued at $32,000. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and reduced their price target for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Freedom Broker raised Expand Energy to a “strong-buy” rating in a research report on Thursday, September 3rd. Citigroup cut their target price on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Benchmark reduced their target price 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. Finally, Weiss Ratings cut shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Expand Energy has an average rating of “Moderate Buy” and a consensus target price of $126.89.

Expand Energy Stock Performance

Shares of EXE opened at $97.91 on Tuesday. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The stock has a fifty day moving average price of $93.09 and a 200-day moving average price of $96.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $22.67 billion, a PE ratio of 8.46 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping 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 analysts’ expectations of $3.05 billion. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.

Insiders Place Their Bets

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price 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. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.