Northwestern Mutual Wealth Management Co. Acquires Shares of 5,377 Expand Energy Corporation $EXE

Northwestern Mutual Wealth Management Co. bought a new position in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, Holdings Channel.com reports. The firm bought 5,377 shares of the company’s stock, valued at approximately $490,000.

Several other hedge funds have also modified their holdings of the stock. Capital Research Global Investors boosted its holdings in Expand Energy by 33.2% in the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares during the period. BlackRock Inc. purchased a new stake in shares of Expand Energy during the second quarter valued at approximately $1,778,004,000. State Street Corp lifted its position in shares of Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. Oaktree Capital Management LP lifted its position in shares of Expand Energy by 3.5% during the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after purchasing an additional 175,114 shares in the last quarter. 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 valued at $493,890,000 after purchasing an additional 2,188,422 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXE has been the topic of several analyst reports. Citigroup dropped their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Johnson Rice downgraded Expand Energy from a “buy” rating to an “accumulate” rating and lowered their target price for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Weiss Ratings lowered Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Finally, Benchmark dropped their price objective on Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.89.

Insiders Place Their Bets

In other Expand Energy news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by insiders.

Expand Energy Stock Up 2.0%

Shares of Expand Energy stock opened at $96.57 on Thursday. The business has a 50-day moving average price of $91.40 and a 200 day moving average price of $97.23. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The firm has a market cap of $22.36 billion, a P/E ratio of 8.34 and a beta of 0.34. 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 (NASDAQ:EXE) last released its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. On average, sell-side analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s payout ratio is currently 19.86%.

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.