Expand Energy Corporation $EXE Shares Purchased by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC increased its Expand Energy stake by 25.9% in the fourth quarter, buying an additional 15,904 shares and bringing its total holding to 77,230 shares worth about $8.5 million.
• Expand Energy reported better-than-expected Q1 earnings, posting $3.83 per share versus analyst estimates of $3.61, while revenue of $4.40 billion also topped forecasts.
• The company declared a quarterly dividend of $0.575 per share, payable June 4, and analysts currently maintain a Moderate Buy consensus with an average price target of $132.09.

Sierra Summit Advisors LLC raised its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,230 shares of the company's stock after acquiring an additional 15,904 shares during the period. Sierra Summit Advisors LLC's holdings in Expand Energy were worth $8,523,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Siemens Fonds Invest GmbH increased its position in shares of Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company's stock valued at $147,000 after acquiring an additional 88 shares during the last quarter. Hara Capital LLC increased its position in shares of Expand Energy by 3.3% during the third quarter. Hara Capital LLC now owns 3,145 shares of the company's stock valued at $334,000 after acquiring an additional 100 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Expand Energy by 1.0% during the third 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 increased its position in shares of Expand Energy by 74.6% during the fourth 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. Finally, McGowan Group Asset Management Inc. increased its position in shares of Expand Energy by 0.4% during the fourth quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company's stock valued at $2,657,000 after acquiring an additional 105 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Trading Down 2.0%

Shares of EXE stock opened at $98.85 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $23.65 billion, a P/E ratio of 7.37 and a beta of 0.36. The company has a 50 day moving average price of $101.73 and a 200 day moving average price of $107.07. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts' consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. Equities research analysts predict that Expand Energy Corporation will post 8.87 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be issued a $0.575 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's payout ratio is 17.15%.

Insider Buying and Selling

In other Expand Energy news, CEO Michael Wichterich acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the acquisition, the chief executive officer owned 83,498 shares of the company's stock, valued at approximately $8,976,035. This trade represents a 2.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marcel Teunissen purchased 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the purchase, the chief financial officer directly owned 9,144 shares of the company's stock, valued at $881,755.92. The trade was a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating on shares of Expand Energy in a research report on Friday, March 27th. TD Cowen upgraded shares of Expand Energy to a "strong-buy" rating in a research report on Monday, February 9th. Stephens lifted their price target on shares of Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company set a $123.00 price target on shares of Expand Energy in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $132.09.

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.

Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).

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.