Hsbc Holdings PLC Sells 12,929 Shares of Expand Energy Corporation $EXE

Key Points

• HSBC Holdings PLC cut its stake in Expand Energy by 3.5% in the fourth quarter, selling 12,929 shares and ending with 358,265 shares valued at about $39.5 million.
• Expand Energy has mixed analyst sentiment: several firms raised or maintained bullish targets, but Barclays downgraded the stock to reduce. The consensus rating remains Moderate Buy with an average price target of $131.72.
• The company 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 estimated. It also paid a quarterly dividend of $0.575 per share, implying a 2.6% yield.

Hsbc Holdings PLC lessened its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,265 shares of the company's stock after selling 12,929 shares during the period. Hsbc Holdings PLC owned about 0.15% of Expand Energy worth $39,487,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp lifted its stake 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 worth $26,000 after acquiring an additional 100 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock valued at $27,000 after acquiring an additional 193 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Expand Energy in the 4th quarter valued at $30,000. Abound Wealth Management grew its position in Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock valued at $33,000 after acquiring an additional 267 shares during the last quarter. Finally, Transamerica Financial Advisors LLC grew its position 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 last quarter. Institutional investors own 97.93% of the company's stock.

Wall Street Analyst Weigh In

EXE has been the subject of several research analyst reports. Piper Sandler lifted their target price on Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a report on Tuesday, May 26th. UBS Group raised their price target on shares of Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. William Blair lowered shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Finally, Truist Financial reissued a "buy" rating and issued a $134.00 price objective (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.72.

Insider Activity at Expand Energy

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

Expand Energy Trading Down 2.0%

Shares of NASDAQ EXE opened at $88.89 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $93.07 and a two-hundred day simple moving average of $101.21. The firm has a market cap of $21.27 billion, a PE ratio of 11.48 and a beta of 0.34. Expand Energy Corporation has a twelve month low of $86.37 and a twelve month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. Analysts expect that Expand Energy Corporation will post 8.67 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

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

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.

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.