Louisiana State Employees Retirement System Acquires New Position in Expand Energy Corporation $EXE

Key Points

• Louisiana State Employees Retirement System opened a new position in Expand Energy during the first quarter, buying 12,100 shares worth about $1.33 million.
• Expand Energy recently reported better-than-expected quarterly results, posting EPS of $3.83 versus estimates of $3.61 and revenue of $4.40 billion versus $3.53 billion expected.
• The company also paid a quarterly dividend of $0.575 per share and has seen insider buying, including purchases by both the CFO and CEO in recent months.

Louisiana State Employees Retirement System bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 12,100 shares of the company's stock, valued at approximately $1,328,000.

Several other large investors also recently bought and sold shares of EXE. Atlantic Union Bankshares Corp increased its stake in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after buying an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Expand Energy during the fourth quarter worth $30,000. Abound Wealth Management lifted its stake in shares of Expand Energy by 890.0% during the fourth quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after buying an additional 267 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of Expand Energy by 564.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company's stock worth $35,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 97.93% of the company's stock.

Expand Energy Stock Performance

Shares of NASDAQ EXE opened at $90.72 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Expand Energy Corporation has a 12 month low of $86.37 and a 12 month high of $126.62. The company has a 50 day simple moving average of $93.22 and a two-hundred day simple moving average of $101.40. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 6.77 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate 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 net margin of 22.53% and a return on equity of 10.26%. As a group, analysts predict that Expand Energy Corporation will post 8.67 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. Expand Energy's payout ratio is currently 17.15%.

Analysts Set New Price Targets

EXE has been the topic of several research reports. Truist Financial reissued a "buy" rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. William Blair lowered Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Piper Sandler lifted their price target on Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Weiss Ratings downgraded Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 19th. Finally, UBS Group increased their price objective on Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.47.

Insider Buying and Selling at Expand Energy

In related news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction on Thursday, May 7th. The stock was acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the purchase, the chief financial officer owned 9,144 shares of the company's stock, valued at approximately $881,755.92. This represents a 28.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 4,000 shares of company stock worth $375,120. 0.22% of the stock is owned by corporate 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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