Hsbc Holdings PLC Acquires Shares of 1,107,812 Expand Energy Corporation $EXE

Hsbc Holdings PLC acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the second quarter, Holdings Channel reports. The fund acquired 1,107,812 shares of the company’s stock, valued at approximately $101,089,000.

Several other institutional investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp raised its holdings 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 purchasing an additional 100 shares during the last quarter. Eastern Bank purchased a new position in Expand Energy during the second quarter worth about $27,000. SJS Investment Consulting Inc. grew its position in Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after purchasing an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Expand Energy in the 4th quarter worth about $30,000. Finally, Ascentis Independent Advisors purchased a new stake in Expand Energy in the 1st quarter valued at about $32,000. Institutional investors own 97.93% of the company’s stock.

Insider Buying and Selling

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

Expand Energy Stock Performance

Shares of EXE stock opened at $96.57 on Thursday. The firm 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 debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62. The firm’s 50-day simple moving average is $91.40 and its two-hundred day simple moving average is $97.23.

Expand Energy (NASDAQ:EXE) last released its 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. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.05 billion. As a group, equities analysts forecast that Expand Energy Corporation will post 8.84 earnings per share for the current year.

Expand Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EXE shares. The Goldman Sachs Group lifted their target price on shares of Expand Energy from $99.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group reduced their target price on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Citigroup decreased their price target on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and dropped their price target for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Finally, Wolfe Research reissued an “outperform” rating and issued a $114.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Expand Energy has a consensus rating of “Moderate Buy” and a consensus target price 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.