Expand Energy Corporation $EXE Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 99.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,222 shares of the company's stock after selling 889,713 shares during the quarter. Jennison Associates LLC's holdings in Expand Energy were worth $354,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp increased its stake in 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. lifted its stake in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after buying an additional 193 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after buying an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy during the fourth quarter valued at $30,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Expand Energy during the first quarter valued at $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp restated a "sector weight" rating on shares of Expand Energy in a research note on Thursday, April 2nd. Morgan Stanley dropped their price target on Expand Energy from $139.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Weiss Ratings lowered Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 19th. Truist Financial reduced their price objective on Expand Energy from $134.00 to $117.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Finally, UBS Group decreased their target price on Expand Energy from $135.00 to $127.00 and set a "buy" rating for the company in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Expand Energy has a consensus rating of "Moderate Buy" and an average target price of $130.19.

Expand Energy Stock Down 1.5%

NASDAQ:EXE opened at $91.73 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The company's fifty day moving average price is $90.80 and its 200-day moving average price is $99.29. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62. The firm has a market capitalization of $21.94 billion, a P/E ratio of 6.84 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 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%. As a group, equities research analysts anticipate that Expand Energy Corporation will post 8.4 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently announced 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 yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy's dividend payout ratio (DPR) is 17.15%.

Insider Activity at Expand Energy

In other news, CFO Marcel Teunissen acquired 2,000 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were acquired 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. This trade represents a 28.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Wichterich bought 1,000 shares of the business's stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the acquisition, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is owned by company insiders.

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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