Beck Capital Management LLC Purchases New Position in Expand Energy Corporation $EXE

Beck Capital Management LLC acquired a new position in Expand Energy Corporation (NASDAQ:EXE) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,510 shares of the company’s stock, valued at approximately $1,822,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. Capital Research Global Investors raised its position in Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock worth $1,695,520,000 after purchasing an additional 9,856,576 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the period. CIBC Private Wealth Group LLC raised its position in Expand Energy by 862.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company’s stock worth $133,542,000 after purchasing an additional 1,126,363 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Expand Energy in the 3rd quarter worth about $115,504,000. Finally, State Street Corp raised its position in Expand Energy by 8.3% in the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Price Performance

Shares of EXE opened at $88.78 on Friday. Expand Energy Corporation has a twelve month low of $86.80 and a twelve month high of $126.62. The company has a 50 day moving average of $96.23 and a two-hundred day moving average of $104.55. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 6.62 and a beta of 0.33.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts predict that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The firm also recently announced 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. This represents a $2.30 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is 17.15%.

Insider Buying and Selling at Expand Energy

In other Expand Energy news, CFO Marcel Teunissen bought 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the completion of the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $93.36 per share, with a total value of $93,360.00. Following the acquisition, the chief executive officer owned 84,498 shares of the company’s stock, valued at $7,888,733.28. The trade was a 1.20% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Piper Sandler raised their target price on shares of Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Truist Financial reaffirmed a “buy” rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research 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 analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.45.

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.