Y Intercept Hong Kong Ltd Grows Stock Position in Expand Energy Corporation $EXE

Key Points

• Y Intercept Hong Kong Ltd boosted its Expand Energy stake by 85.7% in Q1, ending with 111,757 shares valued at about $12.27 million.
• Several insiders have been buying shares too, including CEO Michael Wichterich and CFO Marcel Teunissen, signaling management confidence in the company.
• Expand Energy recently beat quarterly expectations, reporting $3.83 EPS on $4.40 billion in revenue, and it also pays a quarterly dividend that annualizes to $2.30 per share for a 2.5% yield.

Y Intercept Hong Kong Ltd increased its stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,757 shares of the company's stock after purchasing an additional 51,584 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Expand Energy were worth $12,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Expand Energy during the 1st quarter worth $2,599,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Expand Energy in the first quarter valued at about $208,000. Focus Partners Wealth purchased a new stake in shares of Expand Energy in the first quarter valued at about $205,000. Geneos Wealth Management Inc. acquired a new position in shares of Expand Energy during the first quarter worth about $79,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Expand Energy during the second quarter worth about $757,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the purchase, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is currently owned by insiders.

Expand Energy Trading Up 1.3%

Shares of EXE opened at $90.72 on Friday. Expand Energy Corporation has a twelve month low of $86.37 and a twelve month high of $126.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $21.70 billion, a P/E ratio of 6.77 and a beta of 0.34. The firm's 50-day moving average is $93.33 and its two-hundred day moving average is $101.47.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.22. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. On average, research analysts predict that Expand Energy Corporation will post 8.67 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 annualized dividend and a yield of 2.5%. Expand Energy's payout ratio is currently 17.15%.

Analysts Set New Price Targets

A number of brokerages recently commented on EXE. Morgan Stanley reduced their price objective on shares of Expand Energy from $139.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday. Barclays cut Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. Truist Financial reissued a "buy" rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Benchmark raised their price target on Expand Energy from $112.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, UBS Group lifted their price target on Expand Energy from $133.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $132.47.

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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