Inspire Investing LLC Purchases 15,045 Shares of Expand Energy Corporation $EXE

Key Points

• Inspire Investing LLC increased its stake in Expand Energy by 511% in the first quarter, buying 15,045 additional shares and bringing its total holdings to 17,989 shares valued at about $1.98 million.
• Several other institutional investors also raised their positions, and 97.93% of Expand Energy’s stock is held by institutions, showing heavy professional ownership of the company.
• Expand Energy recently reported strong quarterly results with EPS of $3.83 versus expectations of $3.61 and revenue of $4.40 billion versus estimates of $3.53 billion, while analysts currently maintain a Moderate Buy consensus with a target price of $131.71.

Inspire Investing LLC lifted its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 511.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,989 shares of the company's stock after acquiring an additional 15,045 shares during the period. Inspire Investing LLC's holdings in Expand Energy were worth $1,975,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in EXE. Capital Research Global Investors grew its holdings in shares of Expand Energy by 33.2% during the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. State Street Corp increased its stake in shares of Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company's stock valued at $1,400,621,000 after acquiring an additional 1,014,484 shares in the last quarter. Invesco Ltd. grew its stake in Expand Energy by 16.5% in the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company's stock valued at $463,140,000 after acquiring an additional 619,001 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company's stock valued at $362,683,000 after buying an additional 2,160,979 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Expand Energy by 4.5% during the 4th quarter. Morgan Stanley now owns 3,183,177 shares of the company's stock worth $351,296,000 after acquiring an additional 138,381 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Expand Energy from $139.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. UBS Group boosted their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Truist Financial reaffirmed 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. Finally, William Blair lowered shares of Expand Energy from an "outperform" rating to a "market perform" rating in a 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $131.71.

Insider Transactions at Expand Energy

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

Expand Energy Stock Performance

Shares of EXE opened at $91.19 on Wednesday. The company has a 50-day simple moving average of $93.52 and a two-hundred day simple moving average of $101.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $21.82 billion, a PE ratio of 6.80 and a beta of 0.33. Expand Energy Corporation has a one year low of $86.37 and a one year high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results 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. The company 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%. On average, analysts anticipate that Expand Energy Corporation will post 8.67 EPS for the current fiscal year.

Expand Energy Announces Dividend

The firm 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 2.5%. Expand Energy's 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.

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