Royal Bank of Canada Has $45.44 Million Holdings in Expand Energy Corporation $EXE

Key Points

• Royal Bank of Canada increased its Expand Energy stake by 29.7% in the first quarter, bringing its holdings to 413,927 shares valued at approximately $45.44 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy’s latest quarterly earnings beat expectations, with adjusted EPS of $1.33 versus the $1.13 consensus, although revenue of $2.96 billion fell short of estimates. The company maintained its full-year production target and is expanding its gas-marketing platform through the Twin Eagle Holdings acquisition.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $129, but some firms have reduced targets or issued cautious ratings. Expand Energy also declared a quarterly dividend of $0.575, equivalent to a 2.4% annualized yield.

Royal Bank of Canada grew its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,927 shares of the company's stock after acquiring an additional 94,767 shares during the quarter. Royal Bank of Canada owned about 0.17% of Expand Energy worth $45,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of EXE. Atlantic Union Bankshares Corp grew its position in Expand Energy by 74.6% in 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 during the period. Rakuten Securities Inc. raised its holdings in Expand Energy by 350.9% during 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. SJS Investment Consulting Inc. lifted its stake in shares of Expand Energy by 379.6% in the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after buying an additional 205 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Expand Energy during the fourth quarter valued at about $30,000. Finally, Ascentis Independent Advisors bought a new stake in shares of Expand Energy during the first quarter worth about $32,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXE. Citigroup lowered their price objective on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Morgan Stanley cut their price objective on shares of Expand Energy from $139.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. UBS Group reduced their target price on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research note on Thursday. William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Finally, Barclays lowered shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Key Headlines Impacting Expand Energy

Here are the key news stories impacting Expand Energy this week:

• Positive Sentiment: Q2 earnings beat estimates: Expand Energy reported adjusted earnings of $1.33 per share, above the $1.13 consensus estimate. Higher production and lower operating costs helped offset weaker revenue and natural-gas prices. Expand Energy Q2 Earnings Beat Estimates on Strong Production
• Positive Sentiment: Analyst support strengthened: Truist raised its price target from $117 to $121 and maintained a Buy rating, while Morgan Stanley and UBS also reiterated or issued Buy ratings. These targets imply substantial potential upside from recent trading levels. Truist Raises Expand Energy Price Target Morgan Stanley Keeps Their Buy Rating on Expand Energy Expand Energy Receives a Buy from UBS
• Positive Sentiment: Growth strategy gains traction: The acquisition of Twin Eagle Holdings expands Expand Energy’s gas-marketing platform and could improve access to LNG, power and industrial customers. Management also retained its full-year production target and highlighted the potential for a larger buyback authorization. Expand Energy Sticks to Full-Year Production Goal Expand Energy Agrees to Buy Twin Eagle Holdings
• Neutral Sentiment: Barclays maintained a Hold rating, indicating that some analysts remain cautious despite the earnings beat and strategic expansion. Barclays Keeps Their Hold Rating on Expand Energy
• Negative Sentiment: Lower natural-gas prices, weaker quarterly revenue versus expectations and potential infrastructure constraints remain risks to near-term cash flow and the pace of growth.

Expand Energy Price Performance

Shares of NASDAQ:EXE opened at $94.03 on Monday. The company has a market capitalization of $21.77 billion, a PE ratio of 8.12 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $89.98 and a two-hundred day moving average price of $98.74. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Analysts forecast that Expand Energy Corporation will post 8.92 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be given a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy's payout ratio is currently 19.86%.

Insider Activity

In related news, CEO Michael Wichterich purchased 1,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $88.90 per share, for a total transaction 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. This trade represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was bought at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 4,000 shares of company stock worth $375,120. Insiders own 0.22% of the company's stock.

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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