Expand Energy Corporation $EXE Stake Raised by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC boosted its stake in Expand Energy by 143.5% in the fourth quarter, ending with 35,997 shares worth about $3.97 million. Several other hedge funds also increased or initiated positions, and institutional investors now own 97.93% of the stock.
• Expand Energy reported better-than-expected quarterly results, posting EPS of $3.83 versus estimates of $3.61 and revenue of $4.40 billion versus $3.53 billion expected. Analysts still see the company earning about 8.8 EPS for the full year.
• The company announced a quarterly dividend of $0.575 per share, payable June 4, for an annualized yield of about 2.5%. Insider buying was also noted, including purchases by the CFO and CEO, while analysts currently rate the stock a Moderate Buy with a consensus price target of $131.45.

HighTower Advisors LLC grew its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 143.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,997 shares of the company's stock after buying an additional 21,213 shares during the period. HighTower Advisors LLC's holdings in Expand Energy were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its holdings in Expand Energy by 4.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,232 shares of the company's stock worth $577,000 after purchasing an additional 209 shares in the last quarter. Gabelli Funds LLC grew its position in Expand Energy by 5.8% in the fourth quarter. Gabelli Funds LLC now owns 73,674 shares of the company's stock worth $8,131,000 after buying an additional 4,020 shares during the last quarter. North Dakota State Investment Board acquired a new position in Expand Energy in the fourth quarter worth approximately $830,000. Elyxium Wealth LLC acquired a new position in Expand Energy in the fourth quarter worth approximately $73,000. Finally, May Hill Capital LLC acquired a new position in Expand Energy in the fourth quarter worth approximately $287,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Trading Down 0.7%

NASDAQ EXE opened at $92.98 on Friday. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. 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 cap of $22.24 billion, a price-to-earnings ratio of 6.93 and a beta of 0.36. The firm's 50 day moving average price is $100.12 and its two-hundred day moving average price is $106.40.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping 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 firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.53 billion. Equities analysts anticipate that Expand Energy Corporation will post 8.8 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, May 14th. Expand Energy's payout ratio is presently 17.15%.

Insider Buying and Selling at Expand Energy

In related news, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. The trade was a 28.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Wichterich purchased 2,000 shares of the stock in a transaction dated Friday, March 6th. The shares were bought 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 in the company, valued at $8,976,035. This represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on EXE shares. Truist Financial restated a "buy" rating and issued a $134.00 price target (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. Morgan Stanley decreased their price target on shares of Expand Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research report on Friday, May 22nd. UBS Group lifted their price target on shares of Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 19th. Finally, Piper Sandler lifted their price target on shares of Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.45.

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.

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