Allianz Asset Management GmbH Has $12.53 Million Position in Expand Energy Corporation $EXE

Allianz Asset Management GmbH reduced its stake in Expand Energy Corporation (NASDAQ:EXE) by 18.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 107,170 shares of the company’s stock after selling 24,731 shares during the quarter. Allianz Asset Management GmbH’s holdings in Expand Energy were worth $12,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXE. Harbour Investments Inc. acquired a new position in shares of Expand Energy during the first quarter worth approximately $27,000. Transamerica Financial Advisors LLC bought a new stake in Expand Energy in the first quarter valued at $27,000. First Horizon Advisors Inc. bought a new stake in Expand Energy in the first quarter valued at $28,000. Quarry LP bought a new stake in shares of Expand Energy during the first quarter worth $28,000. Finally, Cheviot Value Management LLC bought a new stake in shares of Expand Energy during the first quarter worth $29,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were bought at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the transaction, the chief executive officer directly owned 166,715 shares in the company, valued at $15,981,299.90. This trade represents a 1.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joshua J. Viets purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was bought at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the purchase, the chief operating officer owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXE. Mizuho set a $136.00 price target on Expand Energy in a research note on Monday, September 15th. Wolfe Research cut their price target on Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Expand Energy in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price target on Expand Energy from $121.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group cut their price target on Expand Energy from $141.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Expand Energy presently has an average rating of “Moderate Buy” and an average target price of $127.62.

Expand Energy Trading Up 6.1%

NASDAQ:EXE opened at $106.90 on Tuesday. Expand Energy Corporation has a 1-year low of $82.69 and a 1-year high of $123.35. The business’s 50-day moving average price is $99.63 and its two-hundred day moving average price is $105.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 274.11 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. On average, equities analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.2%. Expand Energy’s dividend payout ratio (DPR) is currently 589.74%.

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.