Riggs Asset Managment Co. Inc. Buys New Shares in Expand Energy Corporation $EXE

Key Points

• Riggs Asset Management bought a new stake of 10,598 shares in Expand Energy (NASDAQ:EXE) in Q4 valued at about $1.17M, and institutional investors now own approximately 97.93% of the stock.
• Expand Energy beat Q4 estimates with EPS of $2.00 versus $1.89 and revenue of $3.27B versus $2.28B, giving the company a market cap of $23.15B and a P/E of 12.77.
• The company pays a quarterly dividend of $0.575 (annualized $2.30, yield 2.4%) and has mostly positive analyst coverage—average rating "Moderate Buy" with a mean target of $131.95—while CEO Michael Wichterich recently bought 2,000 shares.

Riggs Asset Managment Co. Inc. bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,598 shares of the company's stock, valued at approximately $1,170,000.

A number of other hedge funds have also recently bought and sold shares of EXE. Allianz Asset Management GmbH grew its position in Expand Energy by 12.8% during the third quarter. Allianz Asset Management GmbH now owns 120,840 shares of the company's stock worth $12,838,000 after buying an additional 13,670 shares in the last quarter. Intech Investment Management LLC raised its holdings in Expand Energy by 513.9% in the 3rd quarter. Intech Investment Management LLC now owns 36,781 shares of the company's stock valued at $3,908,000 after acquiring an additional 30,790 shares in the last quarter. Candriam S.C.A. raised its holdings in Expand Energy by 59.0% in the 3rd quarter. Candriam S.C.A. now owns 30,794 shares of the company's stock valued at $3,272,000 after acquiring an additional 11,428 shares in the last quarter. CSM Advisors LLC bought a new stake in shares of Expand Energy in the 3rd quarter worth approximately $20,103,000. Finally, Cibc World Market Inc. lifted its position in shares of Expand Energy by 16.2% in the 3rd quarter. Cibc World Market Inc. now owns 78,149 shares of the company's stock worth $8,303,000 after acquiring an additional 10,919 shares during the period. 97.93% of the stock is owned by institutional investors.

Expand Energy Trading Down 0.1%

Shares of EXE opened at $96.30 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.15 billion, a PE ratio of 12.77 and a beta of 0.47. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The stock has a 50 day simple moving average of $104.32 and a 200-day simple moving average of $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.28 billion. On average, sell-side analysts predict that Expand Energy Corporation will post 8.9 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, March 5th. Expand Energy's payout ratio is currently 30.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EXE. Benchmark boosted their price objective on Expand Energy from $112.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Expand Energy in a research report on Friday, March 27th. TD Cowen raised shares of Expand Energy to a "strong-buy" rating in a report on Monday, February 9th. Stephens increased their price objective on shares of Expand Energy from $145.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein reduced their price objective on shares of Expand Energy from $145.00 to $144.00 and set an "outperform" rating for the company in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Expand Energy currently has an average rating of "Moderate Buy" and an average target price of $131.95.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich bought 2,000 shares of the stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $107.50 per share, with a total value of $215,000.00. Following the acquisition, the chief executive officer owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% 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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