Expand Energy Corporation $EXE Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management cut its Expand Energy stake by 32.9% in the fourth quarter, selling 10,735 shares and leaving it with 21,927 shares worth about $2.42 million.
• Expand Energy reported strong quarterly results, posting EPS of $3.83 versus the $3.61 estimate and revenue of $4.40 billion, both ahead of expectations.
• The company declared a quarterly dividend of $0.575 per share, implying a 2.3% annualized yield, while analysts currently rate the stock a Moderate Buy with a $132.23 consensus price target.

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 32.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,927 shares of the company's stock after selling 10,735 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Expand Energy were worth $2,420,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Expand Energy by 2.4% during the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company's stock worth $2,965,510,000 after purchasing an additional 646,330 shares in the last quarter. Capital Research Global Investors increased its position in shares of Expand Energy by 161.5% during the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock worth $1,695,520,000 after acquiring an additional 9,856,576 shares during the period. State Street Corp increased its position in shares of Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares during the period. Invesco Ltd. increased its position in shares of Expand Energy by 16.5% during the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company's stock worth $463,140,000 after acquiring an additional 619,001 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after acquiring an additional 2,414,311 shares during the period. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Stock Performance

NASDAQ:EXE opened at $97.94 on Friday. The firm has a market capitalization of $23.43 billion, a PE ratio of 7.30 and a beta of 0.36. The business's fifty day moving average price is $101.37 and its 200 day moving average price is $106.97. 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 Corporation has a 12 month low of $91.01 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.53 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

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

Insider Activity

In related news, CEO Michael Wichterich purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $107.50 per share, with a total value of $215,000.00. Following the completion of the acquisition, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This represents a 2.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at approximately $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. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXE has been the topic of a number of recent research reports. TD Cowen raised Expand Energy to a "strong-buy" rating in a research report on Monday, February 9th. Benchmark upped their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Morgan Stanley cut their price objective on Expand Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research report on Friday. KeyCorp reaffirmed a "sector weight" rating on shares of Expand Energy in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.23.

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.

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.