Primecap Management Co. CA Purchases Shares of 325,447 Expand Energy Corporation $EXE

Primecap Management Co. CA purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 325,447 shares of the company’s stock, valued at approximately $29,678,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Expand Energy in the first quarter valued at $2,599,000. Ashton Thomas Private Wealth LLC acquired a new position in Expand Energy during the first quarter worth about $208,000. Focus Partners Wealth bought a new stake in Expand Energy in the first quarter worth about $205,000. Geneos Wealth Management Inc. bought a new stake in Expand Energy in the first quarter worth about $79,000. Finally, Gamco Investors INC. ET AL bought a new stake in Expand Energy in the second quarter worth about $757,000. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

Expand Energy Trading Up 2.0%

Shares of NASDAQ EXE opened at $96.57 on Thursday. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The company has a market cap of $22.36 billion, a price-to-earnings 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. The business has a fifty day simple moving average of $91.40 and a 200-day simple moving average of $97.23.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results 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. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts predict that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is presently 19.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Wolfe Research reiterated an “outperform” rating and issued a $114.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Benchmark cut their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their target price for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Finally, Citigroup reduced their target price on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.89.

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.