Swiss Life Asset Management Ltd Reduces Position in Expand Energy Corporation $EXE

Swiss Life Asset Management Ltd cut its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 38.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,890 shares of the company’s stock after selling 16,002 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Expand Energy were worth $2,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH grew its holdings in shares of Expand Energy by 6.8% during the third quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after buying an additional 88 shares during the last quarter. Hara Capital LLC grew its holdings in shares of Expand Energy by 3.3% during the third quarter. Hara Capital LLC now owns 3,145 shares of the company’s stock valued at $334,000 after buying an additional 100 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Expand Energy by 1.0% during the third quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the company’s stock valued at $1,041,000 after buying an additional 100 shares during the last quarter. McGowan Group Asset Management Inc. grew its holdings in shares of Expand Energy by 0.4% during the fourth quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company’s stock valued at $2,657,000 after buying an additional 105 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of Expand Energy by 5.2% during the third quarter. OneDigital Investment Advisors LLC now owns 2,184 shares of the company’s stock valued at $232,000 after buying an additional 108 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Price Performance

NASDAQ:EXE opened at $96.70 on Friday. Expand Energy Corporation has a one year low of $91.01 and a one year high of $126.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 7.21 and a beta of 0.36. The firm’s fifty day moving average is $102.38 and its two-hundred day moving average is $107.15.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Research analysts expect that Expand Energy Corporation will post 8.87 EPS for the current year.

Expand Energy Dividend Announcement

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

Insider Activity

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 cost of $107.50 per share, with a total value of $215,000.00. Following the purchase, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. The trade was a 2.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were purchased 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 approximately $881,755.92. This represents a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EXE shares. Piper Sandler boosted their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Benchmark upped their price target on shares of Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $141.00 price target on shares of Expand Energy in a report on Thursday, February 19th. Stephens upped their price target on shares of Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Expand Energy presently has a consensus rating of “Moderate Buy” and an average price target of $132.09.

Expand Energy 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.