Expand Energy Corporation $EXE Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS boosted its stake in Expand Energy (NASDAQ:EXE) by 40.3% in Q4 to 80,032 shares, valued at about $8.83 million.
• Expand Energy topped expectations last quarter with EPS of $2.00 (vs. $1.89) and revenue of $3.27B (vs. $2.28B), and it currently trades with a market cap of $23.18B and a PE of 12.79.
• CEO Michael Wichterich bought 2,000 shares at $107.50, institutional investors own 97.93% of the stock, and analysts carry a “Moderate Buy” consensus with a $131.95 target; the company pays a $0.575 quarterly dividend (2.4% yield).

KLP Kapitalforvaltning AS raised its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 40.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,032 shares of the company's stock after acquiring an additional 23,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Expand Energy were worth $8,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Siemens Fonds Invest GmbH lifted its stake in shares of 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 acquiring an additional 88 shares during the period. Hara Capital LLC lifted its stake in shares of Expand Energy by 3.3% in the 3rd quarter. Hara Capital LLC now owns 3,145 shares of the company's stock worth $334,000 after acquiring an additional 100 shares during the period. New Mexico Educational Retirement Board lifted its stake in shares of Expand Energy by 1.0% in the 3rd quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the company's stock worth $1,041,000 after acquiring an additional 100 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Expand Energy by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,184 shares of the company's stock worth $232,000 after acquiring an additional 108 shares during the period. Finally, New Wave Wealth Advisors LLC lifted its stake in shares of Expand Energy by 2.7% in the 4th quarter. New Wave Wealth Advisors LLC now owns 4,308 shares of the company's stock worth $475,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of EXE opened at $96.44 on Friday. The company has a 50-day simple moving average of $104.16 and a 200-day simple moving average of $107.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $23.18 billion, a PE ratio of 12.79 and a beta of 0.47. Expand Energy Corporation has a 52-week low of $91.01 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.11. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.28 billion. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. Equities research analysts predict that Expand Energy Corporation will post 8.9 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, March 5th. Expand Energy's dividend payout ratio (DPR) is 30.50%.

Insiders Place Their Bets

In other Expand Energy news, CEO Michael Wichterich bought 2,000 shares of the company's stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the acquisition, the chief executive officer owned 83,498 shares of the company's stock, valued at $8,976,035. The trade was a 2.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXE. Barclays raised their target price on shares of Expand Energy from $125.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Truist Financial reduced their target price on shares of Expand Energy from $136.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. Wells Fargo & Company set a $123.00 price target on shares of Expand Energy in a report on Monday, February 23rd. Jefferies Financial Group reiterated a "buy" rating and issued a $141.00 price target on shares of Expand Energy in a report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Expand Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $131.95.

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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