Easterly Investment Partners LLC Has $8.49 Million Holdings in Expand Energy Corporation $EXE

Key Points

• Easterly Investment Partners trimmed its stake in Expand Energy by 18.8% in the fourth quarter, selling 17,850 shares and ending with 76,953 shares worth about $8.49 million.
• Insiders were buying: CEO Michael Wichterich and CFO Marcel Teunissen each purchased 2,000 shares, signaling recent executive confidence in the company.
• Expand Energy beat quarterly expectations with EPS of $3.83 on $4.40 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average target price of $131.45.

Easterly Investment Partners LLC lessened its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,953 shares of the company's stock after selling 17,850 shares during the quarter. Easterly Investment Partners LLC's holdings in Expand Energy were worth $8,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXE. Capital Research Global Investors increased its position in Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock valued at $1,695,520,000 after acquiring an additional 9,856,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $267,172,000 after acquiring an additional 2,414,311 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Expand Energy by 862.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company's stock valued at $133,542,000 after acquiring an additional 1,126,363 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Expand Energy in the 3rd quarter valued at about $115,504,000. Finally, State Street Corp increased its position in Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company's stock valued at $1,400,621,000 after acquiring an additional 1,014,484 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company's stock.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich acquired 2,000 shares of Expand Energy stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $107.50 per share, with a total value of $215,000.00. Following 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. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following 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 disclosure for this purchase is available in the SEC filing. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EXE has been the subject of several research reports. Benchmark raised their price objective on shares of Expand Energy from $112.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Piper Sandler lifted their price target on shares of Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered their price target on shares of Expand Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $131.45.

Expand Energy Price Performance

Expand Energy stock opened at $92.98 on Monday. The company's 50 day simple moving average is $100.12 and its 200 day simple moving average is $106.34. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $126.62. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 6.93 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11.

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 the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, sell-side analysts anticipate that Expand Energy Corporation will post 8.8 EPS for the current year.

Expand Energy Announces Dividend

The company 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 dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.30 annualized dividend and a yield of 2.5%. Expand Energy's dividend payout ratio (DPR) is presently 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.

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.