CIBC Asset Management Inc Increases Stock Holdings in Expand Energy Corporation $EXE

Key Points

• CIBC Asset Management boosted its stake in Expand Energy by 66.9% in the fourth quarter, adding 34,123 shares and bringing its total holdings to 85,124 shares worth about $9.4 million.
• Institutional interest in EXE remains strong, with multiple hedge funds increasing positions and 97.93% of the stock now owned by institutional investors and hedge funds.
• Expand Energy has drawn mixed but mostly positive analyst coverage, while recent insider buying from the CFO and CEO may signal confidence; the company also reported better-than-expected quarterly earnings and pays a 2.5% dividend yield.

CIBC Asset Management Inc increased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,124 shares of the company's stock after buying an additional 34,123 shares during the quarter. CIBC Asset Management Inc's holdings in Expand Energy were worth $9,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXE. Allianz Asset Management GmbH lifted its stake in Expand Energy by 12.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 120,840 shares of the company's stock worth $12,838,000 after acquiring an additional 13,670 shares in the last quarter. Intech Investment Management LLC lifted its stake in Expand Energy by 513.9% in the 3rd quarter. Intech Investment Management LLC now owns 36,781 shares of the company's stock worth $3,908,000 after acquiring an additional 30,790 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $267,172,000 after acquiring an additional 2,414,311 shares in the last quarter. Candriam S.C.A. lifted its stake in Expand Energy by 59.0% in the 3rd quarter. Candriam S.C.A. now owns 30,794 shares of the company's stock worth $3,272,000 after acquiring an additional 11,428 shares in the last quarter. Finally, Sierra Summit Advisors LLC increased its position in Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock worth $8,523,000 after purchasing an additional 15,904 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXE has been the topic of several research reports. TD Cowen raised Expand Energy to a "strong-buy" rating in a research report on Monday, February 9th. Barclays lowered Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. UBS Group upped their target price on Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Piper Sandler upped their target price on Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $141.00 price objective on shares of Expand Energy in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $131.45.

Insider Buying and Selling

In other Expand Energy news, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares of the company's stock, valued at $881,755.92. This represents a 28.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $93.36 per share, for a total transaction of $93,360.00. Following the completion of the transaction, the chief executive officer owned 84,498 shares of the company's stock, valued at $7,888,733.28. This trade represents a 1.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.22% of the company's stock.

Expand Energy Stock Performance

EXE opened at $92.07 on Friday. The firm has a market capitalization of $22.03 billion, a P/E ratio of 6.87 and a beta of 0.33. The stock's 50 day moving average price is $98.39 and its two-hundred day moving average price is $105.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 12-month low of $90.79 and a 12-month high of $126.62.

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, beating analysts' consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. Expand Energy's dividend payout ratio (DPR) is 17.15%.

Expand Energy 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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