Fifth Third Wealth Advisors LLC Buys 13,707 Shares of Expand Energy Corporation $EXE

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Expand Energy by 123.9% in the first quarter, buying 13,707 additional shares and bringing its total holding to 24,767 shares worth about $2.72 million.
• Expand Energy reported strong first-quarter earnings, posting $3.83 per share versus expectations of $3.61 and revenue of $4.40 billion versus estimates of $3.53 billion.
• The company recently paid a quarterly dividend of $0.575 per share and has also seen insider buying, including purchases by its CFO and CEO, while analysts currently rate the stock a Moderate Buy with an average price target of $131.45.

Fifth Third Wealth Advisors LLC boosted its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 123.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,767 shares of the company's stock after purchasing an additional 13,707 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Expand Energy were worth $2,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EXE. Atlantic Union Bankshares Corp lifted its position in shares of 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 buying an additional 100 shares during the last quarter. Rakuten Securities Inc. increased its holdings in Expand Energy by 350.9% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after acquiring an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Expand Energy in the 4th quarter worth about $30,000. Abound Wealth Management increased its holdings in Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after acquiring an additional 267 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in Expand Energy by 564.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company's stock valued at $35,000 after acquiring an additional 271 shares during the period. 97.93% of the stock is owned by institutional investors.

Expand Energy Stock Performance

Shares of EXE opened at $88.44 on Friday. Expand Energy Corporation has a 52-week low of $86.37 and a 52-week high of $126.62. The stock's 50-day simple moving average is $93.96 and its 200 day simple moving average is $102.41. 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 capitalization of $21.16 billion, a price-to-earnings ratio of 6.60 and a beta of 0.33.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts' consensus estimates of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Research analysts forecast 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 dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 annualized dividend and a yield of 2.6%. Expand Energy's payout ratio is currently 17.15%.

Insider Activity at Expand Energy

In other news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The stock was bought at an average price 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 approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Wichterich bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EXE shares. Weiss Ratings downgraded shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 19th. Morgan Stanley reduced their target price on shares of Expand Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a research note on Friday, May 22nd. Piper Sandler upped their price target on shares of Expand Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. UBS Group upped their price target on shares of Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Truist Financial reiterated a "buy" rating and issued a $134.00 price objective (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Two equities research 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's stock. According to MarketBeat.com, Expand Energy currently 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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