Cibc World Market Inc. Buys 111,727 Shares of Expand Energy Corporation $EXE

Key Points

• Cibc World Market Inc. increased its stake in Expand Energy by 143% in the fourth quarter, buying 111,727 additional shares and bringing its total holding to 189,876 shares worth about $20.96 million.
• Expand Energy recently reported strong quarterly earnings, with EPS of $3.83 beating estimates and revenue of $4.40 billion topping expectations. Analysts now expect the company to earn 8.8 EPS for the current year.
• The stock pays a quarterly dividend of $0.575, or $2.30 annually, for a yield of about 2.5%, while analysts currently have a consensus rating of Moderate Buy with a $131.45 price target.

Cibc World Market Inc. lifted its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 143.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,876 shares of the company's stock after acquiring an additional 111,727 shares during the quarter. Cibc World Market Inc. owned approximately 0.08% of Expand Energy worth $20,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH lifted its holdings in Expand Energy by 6.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock worth $147,000 after purchasing an additional 88 shares in the last quarter. New Mexico Educational Retirement Board grew its position in Expand Energy by 1.0% in the 3rd quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the company's stock valued at $1,041,000 after acquiring an additional 100 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. McGowan Group Asset Management Inc. grew its position in shares of Expand Energy by 0.4% during the 4th quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock worth $2,657,000 after buying an additional 105 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of Expand Energy by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,184 shares of the company's stock worth $232,000 after buying an additional 108 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Price Performance

NASDAQ:EXE opened at $92.07 on Friday. Expand Energy Corporation has a 52 week low of $90.79 and a 52 week high of $126.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $22.03 billion, a P/E ratio of 6.87 and a beta of 0.33. The stock's fifty day moving average is $98.39 and its two-hundred day moving average is $105.51.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.53 billion. Equities analysts expect that Expand Energy Corporation will post 8.8 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy's payout ratio is currently 17.15%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXE. Benchmark upped their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Piper Sandler raised their price objective on Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Barclays cut Expand Energy from an "overweight" rating to a "reduce" rating in a research note on Tuesday, May 26th. Wells Fargo & Company set a $123.00 target price on Expand Energy in a report on Monday, February 23rd. Finally, KeyCorp reissued a "sector weight" rating on shares of Expand Energy in a report on Thursday, April 2nd. Two research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.45.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of the business's stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 84,498 shares of the company's stock, valued at $7,888,733.28. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marcel Teunissen acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by insiders.

About Expand Energy

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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