CIBC Asset Management Inc Purchases 34,123 Shares of Expand Energy Corporation $EXE

CIBC Asset Management Inc increased its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 66.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 85,124 shares of the company’s stock after acquiring an additional 34,123 shares during the period. CIBC Asset Management Inc’s holdings in Expand Energy were worth $9,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EXE. Capital Research Global Investors lifted its position in shares of Expand Energy by 161.5% during the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock worth $1,695,520,000 after buying an additional 9,856,576 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after buying an additional 2,414,311 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Expand Energy by 862.3% during the 3rd 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 during the period. Alyeska Investment Group L.P. bought a new position in shares of Expand Energy during the 3rd quarter worth approximately $115,504,000. Finally, State Street Corp lifted its position in shares of Expand Energy by 8.3% during the 3rd 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 during the period. Institutional investors own 97.93% of the company’s stock.

Expand Energy Trading Down 1.4%

EXE stock opened at $92.07 on Friday. The company has a market cap of $22.03 billion, a P/E ratio of 6.87 and a beta of 0.33. Expand Energy Corporation has a twelve month low of $90.79 and a twelve month high of $126.62. 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 business has a fifty day moving average of $98.39 and a 200-day moving average of $105.51.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping 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 return on equity of 10.26% and a net margin of 22.53%. As a group, equities research analysts expect that Expand Energy Corporation will post 8.8 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.5%. Expand Energy’s payout ratio is presently 17.15%.

Insiders Place Their Bets

In other news, CFO Marcel Teunissen bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $93.36 per share, with a total value of $93,360.00. Following the completion of the purchase, the chief executive officer owned 84,498 shares of the company’s stock, valued at $7,888,733.28. This trade represents a 1.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EXE shares. Barclays downgraded Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Morgan Stanley cut their price objective on Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research report on Monday, February 23rd. Weiss Ratings downgraded Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $134.00 price objective (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Expand Energy presently has an average rating of “Moderate Buy” and an average 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.