Fifth Third Bancorp Has $6.23 Million Holdings in Expand Energy Corporation $EXE

Key Points

• Fifth Third Bancorp boosted its stake in Expand Energy by 453.6% in Q1, ending with 56,754 shares valued at about $6.23 million.
• Expand Energy has seen mixed analyst sentiment: several firms lowered price targets or downgraded ratings, but the stock still carries a Moderate Buy consensus with an average target of $130.19.
• The company beat earnings expectations in its latest quarter, reporting $3.83 EPS and $4.40 billion in revenue, while also paying a quarterly dividend of $0.575 per share for a 2.6% yield.

Fifth Third Bancorp increased its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 453.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,754 shares of the company's stock after buying an additional 46,503 shares during the period. Fifth Third Bancorp's holdings in Expand Energy were worth $6,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp raised its position in shares of Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Expand Energy by 350.9% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock valued at $27,000 after purchasing an additional 193 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Expand Energy during the 4th quarter valued at about $30,000. Finally, Ascentis Independent Advisors acquired a new stake in Expand Energy during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EXE shares. Morgan Stanley lowered their target price on Expand Energy from $139.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, June 29th. William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Citigroup lowered their price objective on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Barclays downgraded shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. Finally, Truist Financial reduced their price target on shares of Expand Energy from $134.00 to $117.00 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 given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $130.19.

Expand Energy Stock Up 0.6%

Shares of NASDAQ:EXE opened at $88.18 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The business's 50 day simple moving average is $91.46 and its two-hundred day simple moving average is $100.03. The firm has a market cap of $21.10 billion, a P/E ratio of 6.58 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last released 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. As a group, research analysts forecast that Expand Energy Corporation will post 8.4 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the acquisition, the chief financial officer directly owned 9,144 shares of the company's stock, valued at $881,755.92. This represents a 28.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Wichterich bought 1,000 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares of the company's stock, valued at $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 4,000 shares of company stock worth $375,120. Corporate insiders own 0.22% of the company's stock.

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.