King Luther Capital Management Corp Raises Stock Holdings in Expand Energy Corporation $EXE

Key Points

• King Luther Capital Management boosted its Expand Energy stake by 16.6% in Q4, buying 34,132 additional shares and ending with 239,607 shares valued at about $26.4 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 97.93% of Expand Energy’s stock. Several firms also recently increased their positions, including Capital Research Global Investors and Northwestern Mutual Wealth Management.
• Expand Energy reported solid quarterly results and returned cash to shareholders, posting EPS of $3.83 versus $3.61 expected and revenue of $4.40 billion versus $3.53 billion estimated, while also announcing a quarterly dividend of $0.575 per share.

King Luther Capital Management Corp increased its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,607 shares of the company's stock after acquiring an additional 34,132 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Expand Energy worth $26,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. Capital Research Global Investors raised its stake in Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock worth $1,695,520,000 after acquiring an additional 9,856,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Expand Energy by 862.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company's stock worth $133,542,000 after acquiring an additional 1,126,363 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Expand Energy in the 3rd quarter worth $115,504,000. Finally, State Street Corp raised its stake in Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company's stock.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich bought 2,000 shares of the company's stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the transaction, the chief executive officer directly owned 83,498 shares of the company's stock, valued at approximately $8,976,035. The trade was a 2.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marcel Teunissen bought 2,000 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is owned by company insiders.

Expand Energy Stock Performance

NASDAQ EXE opened at $92.64 on Thursday. The stock has a 50-day simple moving average of $100.63 and a two-hundred day simple moving average of $106.63. The firm has a market capitalization of $22.16 billion, a P/E ratio of 6.91 and a beta of 0.36. Expand Energy Corporation has a fifty-two week low of $91.01 and a fifty-two week high of $126.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data 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. On average, equities analysts forecast that Expand Energy Corporation will post 8.8 earnings per share for the current year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.5%. Expand Energy's dividend payout ratio (DPR) is 17.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. William Blair downgraded Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Barclays lowered Expand Energy from an "overweight" rating to a "reduce" rating in a research note on Tuesday. TD Cowen upgraded Expand Energy to a "strong-buy" rating in a research note on Monday, February 9th. Piper Sandler lifted their price objective on Expand Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Finally, UBS Group lifted their price objective on Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.45.

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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