Janney Montgomery Scott LLC Has $14.38 Million Holdings in Expand Energy Corporation $EXE

Key Points

• Janney Montgomery Scott LLC boosted its stake in Expand Energy by 551% in the first quarter, ending with 131,017 shares worth about $14.38 million.
• Expand Energy has continued to draw heavy institutional interest, with hedge funds and asset managers owning 97.93% of the stock overall.
• The company beat first-quarter expectations, posting $3.83 EPS and $4.40 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $130.90.

Janney Montgomery Scott LLC raised its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 551.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,017 shares of the company's stock after acquiring an additional 110,892 shares during the period. Janney Montgomery Scott LLC owned approximately 0.05% of Expand Energy worth $14,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EXE. Capital Research Global Investors lifted its holdings in Expand Energy by 161.5% during the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock worth $1,695,520,000 after purchasing an additional 9,856,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after buying an additional 2,414,311 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Expand Energy by 192.0% in the 4th 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 in the last quarter. Dragoneer Investment Group LLC bought a new position in Expand Energy during the 4th quarter worth $145,633,000. Finally, CIBC Private Wealth Group LLC increased its position in Expand Energy by 862.3% during the 3rd 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 during the period. Institutional investors and hedge funds own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

EXE has been the subject of a number of recent research reports. KeyCorp reissued a "sector weight" rating on shares of Expand Energy in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 19th. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research note on Tuesday, May 26th. UBS Group boosted their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Truist Financial reaffirmed a "buy" rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Expand Energy presently has a consensus rating of "Moderate Buy" and an average price target of $130.90.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $89.57 on Thursday. Expand Energy Corporation has a 1 year low of $86.37 and a 1 year high of $126.62. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 6.68 and a beta of 0.34. 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 company's 50 day simple moving average is $93.40 and its 200 day simple moving average is $101.63.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its 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 firm had revenue of $4.40 billion during 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 predict 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 given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. Expand Energy's dividend payout ratio is currently 17.15%.

Insider Activity

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost 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 of the company's stock, valued at $881,755.92. This represents a 28.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Wichterich bought 1,000 shares of the firm's stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 4,000 shares of company stock worth $375,120 over the last ninety days. 0.22% of the stock is currently owned by insiders.

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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