SIR Capital Management L.P. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund purchased 119,600 shares of the company’s stock, valued at approximately $13,199,000. Expand Energy accounts for approximately 1.5% of SIR Capital Management L.P.’s portfolio, making the stock its 23rd biggest position.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Expand Energy by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock valued at $2,965,510,000 after purchasing an additional 646,330 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Expand Energy by 33.2% in the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. State Street Corp increased its holdings in shares of Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Expand Energy by 16.5% in the 3rd quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock valued at $463,140,000 after purchasing an additional 619,001 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.
Insider Activity at Expand Energy
In related news, CFO Marcel Teunissen bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the transaction, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $93.36 per share, for a total transaction of $93,360.00. Following the completion of the transaction, the chief executive officer directly owned 84,498 shares of the company’s stock, valued at approximately $7,888,733.28. The trade was a 1.20% increase in their position. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by company insiders.
Expand Energy Price Performance
Expand Energy (NASDAQ:EXE – Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $3.53 billion. As a group, sell-side analysts expect that Expand Energy Corporation will post 8.7 EPS for the current year.
Expand Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is currently 17.15%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EXE. Weiss Ratings downgraded shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Barclays downgraded shares of Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Benchmark increased their price target on shares of Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company set a $123.00 price target on shares of Expand Energy in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.
View Our Latest Stock Analysis on EXE
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.
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