Expand Energy Corporation $EXE Position Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Expand Energy stake by 54.6% in the fourth quarter, selling 20,087 shares and leaving it with 16,694 shares worth about $1.84 million.
• Expand Energy reported better-than-expected quarterly results, posting $3.83 EPS on revenue of $4.40 billion versus Wall Street estimates of $3.61 EPS and $3.53 billion in revenue.
• The company recently paid a quarterly dividend of $0.575 per share and has seen insider buying, including purchases by CEO Michael Wichterich and CFO Marcel Teunissen.

Intech Investment Management LLC decreased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 54.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,694 shares of the company's stock after selling 20,087 shares during the period. Intech Investment Management LLC's holdings in Expand Energy were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in EXE. Atlantic Union Bankshares Corp boosted its position in shares of Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Abound Wealth Management boosted its position in shares of Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock valued at $33,000 after purchasing an additional 267 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Expand Energy by 85.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 433 shares of the company's stock valued at $46,000 after purchasing an additional 199 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Expand Energy by 54.5% during the 4th quarter. Assetmark Inc. now owns 414 shares of the company's stock valued at $46,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of EXE opened at $93.40 on Friday. Expand Energy Corporation has a one year low of $90.79 and a one year high of $126.62. The company has a 50-day moving average of $98.83 and a two-hundred day moving average of $105.60. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 6.96 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 announced its earnings results on Tuesday, April 28th. The company reported $3.83 EPS 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 company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $3.53 billion. On average, equities research analysts expect that Expand Energy Corporation will post 8.8 earnings per share for the current 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. 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 dividend payout ratio (DPR) is currently 17.15%.

Analysts Set New Price Targets

EXE has been the subject of several research reports. Wells Fargo & Company set a $123.00 price objective on shares of Expand Energy in a research report on Monday, February 23rd. KeyCorp reiterated a "sector weight" rating on shares of Expand Energy in a report on Thursday, April 2nd. William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings cut shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 19th. Two 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. According to data from MarketBeat.com, Expand Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.45.

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 stock was acquired at an average cost of $93.36 per share, for a total transaction of $93,360.00. Following the completion of the acquisition, the chief executive officer owned 84,498 shares in the company, valued at $7,888,733.28. This trade represents a 1.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 price of $96.43 per share, with a total value of $192,860.00. Following the completion of the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at $881,755.92. This trade represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.22% of the company's stock.

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.

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