Catalyst Capital Advisors LLC Purchases Shares of 17,500 Expand Energy Corporation $EXE

Key Points

• Catalyst Capital Advisors initiated a new position in Expand Energy, buying 17,500 shares valued at about $1.93 million in the fourth quarter.
• Expand Energy reported strong quarterly results, with earnings of $3.83 per share versus the $3.61 estimate and revenue of $4.40 billion versus expectations of $3.53 billion.
• The company also announced a quarterly dividend of $0.575 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $131.45.

Catalyst Capital Advisors LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,500 shares of the company's stock, valued at approximately $1,931,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Expand Energy by 2.4% during the third 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 during the period. Capital Research Global Investors grew its holdings in Expand Energy by 161.5% during the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock valued at $1,695,520,000 after purchasing an additional 9,856,576 shares during the period. State Street Corp grew its holdings in Expand Energy by 8.3% during the third 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 during the period. Invesco Ltd. grew its holdings in Expand Energy by 16.5% during the third 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 during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Expand Energy by 36,574.9% during the fourth 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 during the period. Institutional investors own 97.93% of the company's stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $92.98 on Friday. The business's 50-day moving average is $100.12 and its 200 day moving average is $106.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62. The company has a market capitalization of $22.24 billion, a P/E ratio of 6.93 and a beta of 0.36.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping 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, equities research analysts forecast that Expand Energy Corporation will post 8.8 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, May 14th. Expand Energy's payout ratio is presently 17.15%.

Insider Activity at Expand Energy

In related news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction 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 purchase, the chief financial officer directly owned 9,144 shares of the company's stock, valued at $881,755.92. The trade was a 28.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich acquired 2,000 shares of Expand Energy stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, the chief executive officer directly owned 83,498 shares of the company's stock, valued at $8,976,035. The trade was a 2.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stephens boosted their price target on Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Truist Financial reissued a "buy" rating and set a $134.00 price target (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. Morgan Stanley cut their price target on Expand Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Piper Sandler boosted their price target on Expand Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Finally, KeyCorp restated a "sector weight" rating on shares of Expand Energy in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently 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.

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