Phoenix Financial Ltd. Sells 241,631 Shares of Expand Energy Corporation $EXE

Phoenix Financial Ltd. lowered its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,356,470 shares of the company’s stock after selling 241,631 shares during the quarter. Expand Energy accounts for about 1.6% of Phoenix Financial Ltd.’s portfolio, making the stock its 17th largest position. Phoenix Financial Ltd. owned about 0.57% of Expand Energy worth $149,699,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms have recently issued reports on EXE. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research note on Monday, February 23rd. Piper Sandler increased their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and issued a $141.00 price target on shares of Expand Energy in a research report on Thursday, February 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Expand Energy in a research note on Friday, March 27th. Finally, UBS Group boosted their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.09.

Insiders Place Their Bets

In related news, CFO Marcel Teunissen purchased 2,000 shares of the business’s 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 acquisition, the chief financial officer owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Wichterich purchased 2,000 shares of Expand Energy stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the purchase, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.22% of the company’s stock.

Expand Energy Stock Up 1.1%

Shares of NASDAQ:EXE opened at $96.70 on Friday. The firm has a market capitalization of $23.13 billion, a PE ratio of 7.21 and a beta of 0.36. The business has a 50 day simple moving average of $102.38 and a two-hundred day simple moving average of $107.15. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, equities analysts predict that Expand Energy Corporation will post 8.87 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be paid a $0.575 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

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.