Expand Energy Corporation $EXE Shares Sold by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management reduced its stake in Expand Energy by 41.2% in the fourth quarter, though institutional ownership remains very high at 97.93%.
• Insiders bought shares: CEO Michael Wichterich purchased 1,000 shares in June, and CFO Marcel Teunissen bought 2,000 shares in May, signaling internal confidence.
• Expand Energy reported solid quarterly results, beating EPS and revenue expectations, while also paying a quarterly dividend of $0.575 per share for a 2.6% annualized yield.

Los Angeles Capital Management LLC cut its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 41.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,102 shares of the company's stock after selling 23,227 shares during the quarter. Los Angeles Capital Management LLC's holdings in Expand Energy were worth $3,327,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp lifted its holdings in Expand Energy by 74.6% in 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 period. Rakuten Securities Inc. lifted its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock valued at $27,000 after acquiring an additional 193 shares during the period. Abound Wealth Management lifted its holdings in Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company's stock valued at $33,000 after acquiring an additional 267 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Expand Energy by 85.0% in the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company's stock valued at $46,000 after acquiring an additional 199 shares during the period. Finally, Assetmark Inc. lifted its holdings in Expand Energy by 54.5% in the fourth quarter. Assetmark Inc. now owns 414 shares of the company's stock valued at $46,000 after acquiring an additional 146 shares during the period. 97.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $93.36 per share, with a total value of $93,360.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the purchase, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by corporate insiders.

Expand Energy Trading Down 1.8%

Shares of EXE stock opened at $88.78 on Wednesday. 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 has a market cap of $21.24 billion, a price-to-earnings ratio of 6.62 and a beta of 0.33. The stock has a 50 day simple moving average of $97.49 and a 200-day simple moving average of $105.04. Expand Energy Corporation has a 1-year low of $88.36 and a 1-year high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, equities research analysts expect that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy's dividend payout ratio is currently 17.15%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXE. Wells Fargo & Company set a $123.00 price target on Expand Energy in a report on Monday, February 23rd. Morgan Stanley decreased their price target on Expand Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. UBS Group boosted their price target on Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, April 30th. William Blair downgraded Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Finally, Benchmark upped their target price on Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Two equities 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Expand Energy has an average rating of "Moderate Buy" and an average price target of $131.45.

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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