Man Group plc Invests $148.23 Million in Expand Energy Corporation $EXE

Man Group plc purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,625,479 shares of the company’s stock, valued at approximately $148,227,000. Man Group plc owned approximately 0.70% of Expand Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Bancorp Inc ME acquired a new stake in shares of Expand Energy in the 2nd quarter worth $46,000. Polar Asset Management Partners Inc. acquired a new position in Expand Energy during the 2nd quarter valued at about $217,000. Jupiter Topco LLC acquired a new position in Expand Energy during the 2nd quarter valued at about $39,083,000. Hsbc Holdings PLC purchased a new stake in Expand Energy in the second quarter valued at about $101,089,000. Finally, Primecap Management Co. CA purchased a new stake in Expand Energy in the second quarter valued at about $29,678,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

EXE has been the subject of several recent analyst reports. Truist Financial raised their price target on Expand Energy from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Roth Capital reiterated a “neutral” rating and issued a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Weiss Ratings cut shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Benchmark dropped their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Insiders Place Their Bets

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

Expand Energy Stock Performance

Shares of EXE opened at $94.66 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day moving average of $91.22 and a two-hundred day moving average of $97.32. The stock has a market cap of $21.91 billion, a P/E ratio of 8.17 and a beta of 0.34. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62.

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

Expand Energy Announces Dividend

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

Expand Energy Company 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.