Daiichi Life Insurance Co. Ltd. Makes New $3.34 Million Investment in Expand Energy Corporation $EXE

Daiichi Life Insurance Co. Ltd. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,657 shares of the company’s stock, valued at approximately $3,343,000.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp increased 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 worth $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. boosted its stake in Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after buying an additional 193 shares during the period. Eastern Bank bought a new stake in Expand Energy during the second quarter valued at $27,000. SJS Investment Consulting Inc. grew its position in Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after buying an additional 205 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Expand Energy in the 4th quarter worth about $30,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Benchmark cut their price objective on Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Morgan Stanley decreased their price objective on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays lowered their target price on shares of Expand Energy from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Finally, Truist Financial lifted their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.67.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

EXE opened at $96.09 on Monday. The stock has a market cap of $22.24 billion, a PE ratio of 8.30 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. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62. The business’s fifty day simple moving average is $90.93 and its 200 day simple moving average is $97.51.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. As a group, research analysts expect that Expand Energy Corporation will post 8.84 earnings per share for the current fiscal 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 issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Expand Energy’s dividend payout ratio (DPR) is currently 19.86%.

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.