Aristeia Capital L.L.C. Sells 38,654 Shares of Expand Energy Corporation $EXE

Key Points

• Aristeia Capital L.L.C. cut its Expand Energy stake by 38.8% in the fourth quarter, selling 38,654 shares and leaving it with 60,915 shares valued at about $6.7 million.
• Expand Energy reported strong quarterly results, posting EPS of $3.83 versus estimates of $3.61 and revenue of $4.40 billion, well above the $3.53 billion consensus.
• The company also highlighted recent insider buying and a quarterly dividend of $0.575 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $131.45.

Aristeia Capital L.L.C. lessened its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,915 shares of the company's stock after selling 38,654 shares during the quarter. Aristeia Capital L.L.C.'s holdings in Expand Energy were worth $6,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXE. Atlantic Union Bankshares Corp raised its holdings in shares of Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after purchasing an additional 193 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Expand Energy in the fourth quarter worth $30,000. Abound Wealth Management raised its holdings in Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after purchasing an additional 267 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in Expand Energy by 564.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company's stock worth $35,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Expand Energy Trading Down 1.0%

Expand Energy stock opened at $87.46 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. Expand Energy Corporation has a one year low of $86.80 and a one year high of $126.62. The stock has a market capitalization of $20.92 billion, a PE ratio of 6.52 and a beta of 0.33. The business's fifty day moving average is $95.28 and its 200 day moving average is $103.83.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.53 billion. On average, sell-side analysts predict that Expand Energy Corporation will post 8.87 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. 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 17.15%.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were bought 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 directly owned 9,144 shares of the company's stock, valued at approximately $881,755.92. This represents a 28.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Wichterich acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 4,000 shares of company stock worth $375,120 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EXE. Barclays downgraded Expand Energy from an "overweight" rating to a "reduce" rating in a report on Tuesday, May 26th. Weiss Ratings downgraded Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 19th. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a report on Monday, February 23rd. Truist Financial reiterated a "buy" rating and issued a $134.00 price objective (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. Finally, UBS Group increased their price objective on Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Two investment 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $131.45.

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.

Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.