State of Michigan Retirement System Sells 11,800 Shares of Expand Energy Corporation $EXE

Key Points

• State of Michigan Retirement System cut its stake in Expand Energy by 15.9%, selling 11,800 shares and leaving it with 62,400 shares valued at $6.886 million; institutional investors now own 97.93% of the stock.
• Q1 beat and strong cash flow: Expand Energy reported revenue of $4.40B and EPS of $3.83, generated roughly $1.7B of adjusted free cash flow that funded ~$1.3B of debt retirements and will lower annual interest expense by >$80M, and declared a quarterly dividend of $0.575 (annualized $2.30, ~2.3% yield).
• Insider buy and analyst view: CEO Michael Wichterich purchased 2,000 shares at $107.50, lifting his holding to 83,498 shares, while analysts maintain a consensus "Moderate Buy" with an average target near $131.95.

State of Michigan Retirement System lowered its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,400 shares of the company's stock after selling 11,800 shares during the period. State of Michigan Retirement System's holdings in Expand Energy were worth $6,886,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. lifted its holdings in Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after buying an additional 193 shares in the last quarter. Abound Wealth Management lifted its holdings in Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company's stock worth $33,000 after buying an additional 267 shares in the last quarter. ESL Trust Services LLC bought a new position in Expand Energy in the 3rd quarter valued at $32,000. Assetmark Inc. boosted its position in Expand Energy by 54.5% in the 4th quarter. Assetmark Inc. now owns 414 shares of the company's stock valued at $46,000 after buying an additional 146 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Expand Energy by 85.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 433 shares of the company's stock valued at $46,000 after buying an additional 199 shares during the period. Institutional investors own 97.93% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on EXE. UBS Group cut their price target on Expand Energy from $139.00 to $133.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. KeyCorp reiterated a "sector weight" rating on shares of Expand Energy in a research report on Thursday, April 2nd. Morgan Stanley reissued an "overweight" rating on shares of Expand Energy in a report on Friday, March 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $141.00 target price on shares of Expand Energy in a research note on Thursday, February 19th. Finally, Benchmark lifted their price target on shares of Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $131.95.

Insider Transactions at Expand Energy

In other news, CEO Michael Wichterich bought 2,000 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $107.50 per share, with a total value of $215,000.00. Following the completion of the purchase, the chief executive officer owned 83,498 shares of the company's stock, valued at approximately $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Expand Energy Trading Up 4.2%

NASDAQ EXE opened at $100.99 on Thursday. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62. The stock has a 50-day simple moving average of $103.92 and a 200 day simple moving average of $107.48. 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 company has a market capitalization of $24.24 billion, a PE ratio of 13.39 and a beta of 0.47.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.76 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $3.42 billion. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%. Research analysts forecast that Expand Energy Corporation will post 8.9 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be issued 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 yield of 2.3%. Expand Energy's payout ratio is currently 17.15%.

Expand Energy News Summary

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

• Positive Sentiment: Q1 results beat consensus — EXE reported stronger-than-expected revenue and EPS (reported revenue ~$4.4B and EPS above estimates), which traders view as confirmation of better-than-forecast execution. Expand Energy Corporation Reports First Quarter 2026 Results
• Positive Sentiment: Very strong Q1 cash flow and balance-sheet actions — management said adjusted free cash flow was roughly $1.7B in Q1; the cash enabled nearly $1.3B of debt retirements and will cut annual interest expense by >$80M, improving financial flexibility. Expand Energy: Excellent Q1 2026 Free Cash Flow After Winter Storm Fern
• Positive Sentiment: Dividend announced — company declared a quarterly cash dividend ($0.575 per share; record May 14, payable June 4), which supports income-oriented holders and signals confidence in near-term cash generation.
• Neutral Sentiment: Operational detail and investor guidance available — management hosted the Q1 call and published a slide deck; investors can review the call/transcript and presentation for production, capex and guidance nuance. Expand Energy Corporation (EXE) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst and institutional positioning mixed — multiple buy/overweight ratings and higher price targets exist, but coverage shows divergence (some very low outliers). Monitor analyst revisions and 13F changes for momentum. Expand Energy Corporation (EXE) Releases Q1 2026 Earnings
• Negative Sentiment: Commodity-price sensitivity and one-off winter effects — Q1 benefited from higher NYMEX gas (~$5 during winter); futures strip is lower (~$3), so sustained FCF depends on prices and production. That makes FCF and earnings outlook cyclical. Expand Energy: Excellent Q1 2026 Free Cash Flow After Winter Storm Fern
• Negative Sentiment: Mixed profitability and legacy leverage — some third‑party summaries note big YoY swings in operating/net income metrics despite top-line growth; total liabilities remain sizable (~$10B), so investors should watch future cash flow conversion and debt metrics. Expand Energy Corporation (EXE) Releases Q1 2026 Earnings

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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