Daiwa Securities Group Inc. Has $4.64 Million Stock Holdings in Expand Energy Corporation $EXE

Key Points

• Daiwa Securities Group cut its stake in Expand Energy by 22.2% in the fourth quarter, leaving it with 42,013 shares valued at about $4.64 million.
• Expand Energy’s latest results beat expectations, with Q1 EPS of $3.83 versus $3.61 expected and revenue of $4.40 billion versus $3.53 billion forecast.
• Analysts remain upbeat on the stock, with a Moderate Buy consensus and an average price target of $131.45, while insider buying and a quarterly dividend of $0.575 per share also signal confidence.

Daiwa Securities Group Inc. lessened its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,013 shares of the company's stock after selling 12,006 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Expand Energy were worth $4,637,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EXE. Intech Investment Management LLC raised 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 purchasing an additional 30,790 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised 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 purchasing an additional 2,414,311 shares in the last quarter. Candriam S.C.A. raised 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 purchasing an additional 11,428 shares in the last quarter. Sierra Summit Advisors LLC raised its stake 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 in the last quarter. Finally, CSM Advisors LLC acquired a new stake in Expand Energy in the 3rd quarter worth about $20,103,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on EXE shares. Benchmark lifted their price objective on shares of Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. UBS Group lifted their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Stephens lifted their price objective on shares of Expand Energy from $145.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. Finally, Truist Financial restated a "buy" rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.45.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $90.42 on Tuesday. The stock has a market capitalization of $21.63 billion, a PE ratio of 6.74 and a beta of 0.33. 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 firm has a 50 day moving average of $97.98 and a 200-day moving average of $105.24. Expand Energy Corporation has a 12 month low of $90.31 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. On average, equities research analysts predict that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued 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 2.5%. Expand Energy's payout ratio is 17.15%.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $93.36 per share, with a total value 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 trade represents a 1.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.22% of the company's stock.

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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