New York State Teachers Retirement System Acquires 24,109 Shares of Expand Energy Corporation $EXE

Key Points

• New York State Teachers Retirement System boosted its stake in Expand Energy by 16.6% in the first quarter, adding 24,109 shares and bringing its total holdings to 169,544 shares worth about $18.6 million.
• Expand Energy’s recent results were strong: the company reported quarterly EPS of $3.83, beating estimates, and revenue of $4.40 billion, also above expectations.
• Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average target price of $132.47, even after a few downgrades and lower price targets.

New York State Teachers Retirement System increased its holdings in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,544 shares of the company's stock after buying an additional 24,109 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Expand Energy worth $18,613,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its position in Expand Energy by 74.6% in the fourth 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 period. Rakuten Securities Inc. grew its position in shares of 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. SJS Investment Consulting Inc. grew its position in shares of Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after acquiring an additional 205 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Expand Energy in the 4th quarter worth $30,000. Finally, Abound Wealth Management increased its stake in shares of Expand Energy by 890.0% in the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after purchasing an additional 267 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXE has been the topic of several analyst reports. William Blair downgraded Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Piper Sandler upped 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. 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. Morgan Stanley decreased 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, June 29th. Finally, Weiss Ratings cut Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.47.

Expand Energy Price Performance

EXE opened at $90.72 on Friday. 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 Corporation has a fifty-two week low of $86.37 and a fifty-two week high of $126.62. The firm's fifty day moving average is $93.22 and its 200 day moving average is $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 issued 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. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts forecast that Expand Energy Corporation will post 8.67 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently disclosed 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 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy's payout ratio is presently 17.15%.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the company's stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marcel Teunissen bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, with a total value of $192,860.00. Following the transaction, 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 4,000 shares of company stock valued at $375,120. Corporate insiders own 0.22% of the company's stock.

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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