Cibc World Market Inc. Buys New Holdings in Expand Energy Corporation $EXE

Cibc World Market Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 49,598 shares of the company’s stock, valued at approximately $4,523,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp lifted its position in shares of Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank bought a new position in shares of Expand Energy during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its holdings in shares of Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after acquiring an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Expand Energy during the 4th quarter worth approximately $30,000. Finally, Ascentis Independent Advisors bought a new stake in Expand Energy in the 1st quarter valued at $32,000. Institutional investors own 97.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly 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 document filed with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $94.66 on Wednesday. The firm has a 50 day moving average of $91.22 and a 200-day moving average of $97.32. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. 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 stock has a market capitalization of $21.91 billion, a PE ratio of 8.17 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities research analysts predict that Expand Energy Corporation will post 8.84 EPS for the current fiscal year.

Expand Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on EXE shares. Truist Financial raised their price target on Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Morgan Stanley cut their target price on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. UBS Group cut their price objective on shares of Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Citigroup reduced their price objective on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.