Swiss Life Asset Management Ltd Sells 16,002 Shares of Expand Energy Corporation $EXE

Key Points

• Swiss Life Asset Management cut its Expand Energy stake by 38.2% in the fourth quarter, selling 16,002 shares and ending with 25,890 shares valued at about $2.86 million.
• Expand Energy recently beat quarterly expectations, posting EPS of $3.83 versus the $3.61 consensus and revenue of $4.40 billion versus $3.53 billion expected.
• Wall Street remains broadly positive on the stock, with an average Moderate Buy rating and a target price of $132.09, while the company also declared a quarterly dividend of $0.575 per share.

Swiss Life Asset Management Ltd lessened its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 38.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,890 shares of the company's stock after selling 16,002 shares during the period. Swiss Life Asset Management Ltd's holdings in Expand Energy were worth $2,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EXE. Capital Research Global Investors raised its stake in shares of Expand Energy by 161.5% during the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock valued at $1,695,520,000 after acquiring an additional 9,856,576 shares in the last quarter. Phoenix Financial Ltd. bought a new position in Expand Energy in the third quarter worth approximately $169,783,000. CIBC Private Wealth Group LLC raised its stake in Expand Energy by 862.3% in the third quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company's stock worth $133,542,000 after buying an additional 1,126,363 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Expand Energy in the third quarter worth approximately $115,504,000. Finally, State Street Corp raised its stake in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after buying an additional 1,014,484 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EXE shares. Morgan Stanley reissued an "overweight" rating on shares of Expand Energy in a research note on Friday, March 27th. Benchmark boosted their price objective on shares of Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Truist Financial reissued 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. William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $132.09.

Expand Energy Stock Performance

Shares of EXE stock opened at $96.70 on Friday. The business's fifty day simple moving average is $102.38 and its 200-day simple moving average is $107.15. The company has a market cap of $23.13 billion, a PE ratio of 7.21 and a beta of 0.36. 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 $91.01 and a 12-month high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 10.26% and a net margin of 22.53%. Analysts expect that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is presently 17.15%.

Insiders Place Their Bets

In other Expand Energy news, CEO Michael Wichterich purchased 2,000 shares of Expand Energy stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $107.50 per share, with a total value of $215,000.00. Following the completion of the transaction, the chief executive officer owned 83,498 shares in the company, valued at approximately $8,976,035. This trade represents a 2.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Corporate 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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