E Fund Management Hong Kong Co. Ltd. Reduces Holdings in Expand Energy Corporation $EXE

E Fund Management Hong Kong Co. Ltd. trimmed its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837 shares of the company’s stock after selling 152 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Expand Energy were worth $98,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $3,757,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $1,179,000. Wedbush Securities Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $210,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $1,383,000. Finally, Bessemer Group Inc. purchased a new position in shares of Expand Energy during the 1st quarter worth approximately $75,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Expand Energy

In related news, COO Joshua J. Viets acquired 2,000 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $92.16 per share, with a total value of $184,320.00. Following the purchase, the chief operating officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Domenic J. Dell’osso, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $95.86 per share, with a total value of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares in the company, valued at approximately $15,981,299.90. This trade represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EXE has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Expand Energy from $121.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Wolfe Research cut their price target on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Mizuho set a $136.00 price target on Expand Energy in a report on Monday, September 15th. Bernstein Bank cut their price target on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Finally, KeyCorp cut their price target on Expand Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.42.

Expand Energy Stock Down 0.3%

Shares of NASDAQ EXE opened at $108.68 on Thursday. Expand Energy Corporation has a 52-week low of $82.69 and a 52-week high of $123.35. The firm has a fifty day moving average of $99.36 and a 200-day moving average of $106.22. The stock has a market capitalization of $25.88 billion, a PE ratio of 278.67 and a beta of 0.47. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $2.09 billion. On average, analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. Expand Energy’s payout ratio is currently 589.74%.

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.