Saudi Central Bank Grows Stock Holdings in Expand Energy Corporation $EXE

Saudi Central Bank lifted its holdings in Expand Energy Corporation (NASDAQ:EXE) by 91.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,828 shares of the company’s stock after acquiring an additional 8,037 shares during the quarter. Saudi Central Bank’s holdings in Expand Energy were worth $1,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its holdings in Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after purchasing an additional 5,291,948 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Expand Energy during the 2nd quarter valued at about $1,778,004,000. State Street Corp lifted its holdings in shares of Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after buying an additional 1,014,484 shares during the period. Oaktree Capital Management LP lifted its holdings in shares of Expand Energy by 3.5% in the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after buying an additional 175,114 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after buying an additional 2,188,422 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on EXE shares. Freedom Broker raised Expand Energy to a “strong-buy” rating in a report on Thursday, September 3rd. The Goldman Sachs Group boosted their price target on Expand Energy from $99.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Truist Financial raised their price objective on shares of Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup cut their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Johnson Rice cut shares of Expand Energy from a “buy” rating to an “accumulate” rating and decreased their target price for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and a consensus price target of $126.89.

Expand Energy Price Performance

Shares of Expand Energy stock opened at $98.19 on Wednesday. The firm has a market cap of $22.73 billion, a PE ratio of 8.48 and a beta of 0.34. The business has a 50-day moving average price of $93.23 and a 200 day moving average price of $96.90. The company has a quick ratio of 0.96, a current 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.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts predict that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.

Insider Buying and Selling

In related news, CEO Michael Wichterich purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

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.