Ceredex Value Advisors LLC Has $70.62 Million Stock Position in Expand Energy Corporation $EXE

Ceredex Value Advisors LLC boosted its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 202.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664,689 shares of the company’s stock after buying an additional 444,639 shares during the period. Expand Energy comprises 1.6% of Ceredex Value Advisors LLC’s portfolio, making the stock its 5th largest holding. Ceredex Value Advisors LLC owned approximately 0.28% of Expand Energy worth $70,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. lifted its holdings in Expand Energy by 255.6% during the 2nd quarter. Assetmark Inc. now owns 256 shares of the company’s stock valued at $30,000 after purchasing an additional 184 shares during the last quarter. ESL Trust Services LLC bought a new position in Expand Energy in the third quarter valued at about $32,000. Smartleaf Asset Management LLC increased its position in Expand Energy by 85.0% in the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after purchasing an additional 199 shares during the period. Root Financial Partners LLC acquired a new position in Expand Energy during the 3rd quarter valued at about $47,000. Finally, CX Institutional bought a new position in shares of Expand Energy in the 3rd quarter valued at about $52,000. Institutional investors own 97.93% of the company’s stock.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich acquired 2,000 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the transaction, the chief executive officer directly owned 83,498 shares in the company, valued at approximately $8,976,035. This trade represents a 2.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Expand Energy Stock Performance

NASDAQ:EXE opened at $107.87 on Tuesday. The stock has a 50-day moving average price of $106.19 and a 200 day moving average price of $106.80. The stock has a market capitalization of $25.93 billion, a P/E ratio of 14.31 and a beta of 0.47. Expand Energy Corporation has a 12-month low of $91.01 and a 12-month high of $126.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Equities research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, March 5th. Expand Energy’s dividend payout ratio is 30.50%.

Analysts Set New Price Targets

Several analysts have commented on EXE shares. Citigroup upped their target price on shares of Expand Energy from $118.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Barclays cut their target price on Expand Energy from $126.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Sanford C. Bernstein decreased their target price on shares of Expand Energy from $145.00 to $144.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Jefferies Financial Group reiterated a “buy” rating and set a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. Finally, Mizuho upped their price objective on Expand Energy from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $130.38.

Expand Energy 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.