Goehring & Rozencwajg Associates LLC Boosts Stock Position in Expand Energy Corporation $EXE

Key Points

• Goehring & Rozencwajg Associates increased its stake in Expand Energy by 49.2% in the fourth quarter, adding 54,567 shares to bring its total to 165,368 shares worth about $18.25 million.
• Other institutional investors also made large buys, and hedge funds and institutions now own 97.93% of the company’s stock, signaling heavy professional ownership.
• Expand Energy reported better-than-expected quarterly results with EPS of $3.83 versus $3.61 expected and revenue of $4.40 billion versus $3.53 billion expected, while analysts currently rate the stock a Moderate Buy with an average target price of $131.45.

Goehring & Rozencwajg Associates LLC grew its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,368 shares of the company's stock after acquiring an additional 54,567 shares during the period. Expand Energy accounts for approximately 1.8% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 19th largest holding. Goehring & Rozencwajg Associates LLC owned 0.07% of Expand Energy worth $18,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EXE. Capital Research Global Investors raised its position in shares of Expand Energy by 161.5% in the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock worth $1,695,520,000 after buying an additional 9,856,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after buying an additional 2,414,311 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Expand Energy by 862.3% in the third quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company's stock worth $133,542,000 after buying an additional 1,126,363 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Expand Energy in the third quarter worth $115,504,000. Finally, State Street Corp raised its position in shares of Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after buying an additional 1,014,484 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group increased their price objective on Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Morgan Stanley lowered 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, May 22nd. Stephens increased their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. KeyCorp reiterated a "sector weight" rating on shares of Expand Energy in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.45.

Expand Energy Stock Up 2.0%

EXE opened at $88.78 on Friday. The stock has a market cap of $21.24 billion, a PE ratio of 6.62 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 52 week low of $86.80 and a 52 week high of $126.62. The business's fifty day simple moving average is $96.23 and its 200 day simple moving average is $104.55.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. As a group, research analysts expect that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced 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 dividend on an annualized basis 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%.

Insiders Place Their Bets

In other news, CFO Marcel Teunissen bought 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The shares were acquired 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 directly owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Wichterich bought 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, for a total transaction of $93,360.00. Following the purchase, the chief executive officer owned 84,498 shares of the company's stock, valued at $7,888,733.28. The trade was a 1.20% 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 owned by corporate insiders.

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.

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