Catalyst Funds Management Pty Ltd Acquires Shares of 10,700 Expand Energy Corporation $EXE

Key Points

• Catalyst Funds Management disclosed a new position in Expand Energy, buying 10,700 shares worth about $1.18 million in the fourth quarter.
• Expand Energy’s latest quarterly results topped expectations, with EPS of $3.83 versus $3.61 expected and revenue of $4.40 billion versus $3.53 billion estimated.
• The company also announced a quarterly dividend of $0.575 per share, equal to $2.30 annually and a 2.3% yield, while analysts currently rate the stock Moderate Buy on average.

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,700 shares of the company's stock, valued at approximately $1,181,000.

A number of other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Expand Energy by 4.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company's stock valued at $286,000 after acquiring an additional 111 shares during the last quarter. Orca Wealth Management LLC increased its position in Expand Energy by 3.2% during the fourth quarter. Orca Wealth Management LLC now owns 19,644 shares of the company's stock valued at $2,112,000 after acquiring an additional 615 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in Expand Energy during the fourth quarter valued at $391,000. Global Retirement Partners LLC increased its position in Expand Energy by 64.6% during the fourth quarter. Global Retirement Partners LLC now owns 1,289 shares of the company's stock valued at $142,000 after acquiring an additional 506 shares during the last quarter. Finally, Sierra Summit Advisors LLC increased its position in Expand Energy by 25.9% during the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock valued at $8,523,000 after acquiring an additional 15,904 shares during the last quarter. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXE. Morgan Stanley cut their price objective on shares of Expand Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research report on Friday. UBS Group boosted their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Stephens boosted their price objective on shares of Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Jefferies Financial Group reiterated a "buy" rating and set a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Finally, Wells Fargo & Company set a $123.00 price objective on shares of Expand Energy in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Expand Energy presently has an average rating of "Moderate Buy" and an average target price of $132.23.

Expand Energy Trading Up 0.4%

NASDAQ EXE opened at $97.94 on Friday. The company's 50-day moving average price is $101.37 and its 200-day moving average price is $106.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $23.43 billion, a PE ratio of 7.30 and a beta of 0.36. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping analysts' consensus estimates of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts forecast that Expand Energy Corporation will post 8.8 earnings per share for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. Expand Energy's dividend payout ratio is 17.15%.

Insider Transactions at Expand Energy

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was 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 in the company, valued at $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Wichterich acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $107.50 per share, with a total value of $215,000.00. Following the completion of the purchase, the chief executive officer owned 83,498 shares of the company's stock, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is owned by corporate insiders.

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.