Expand Energy Corporation $EXE Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 92.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,458 shares of the company’s stock after selling 1,522,321 shares during the period. Assenagon Asset Management S.A.’s holdings in Expand Energy were worth $13,224,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Cidel Asset Management Inc. increased its holdings in shares of Expand Energy by 5.7% during the first quarter. Cidel Asset Management Inc. now owns 7,865 shares of the company’s stock worth $863,000 after buying an additional 427 shares in the last quarter. Krilogy Financial LLC acquired a new stake in shares of Expand Energy during the 1st quarter worth $658,000. PKO Investment Management Joint Stock Co increased its position in shares of Expand Energy by 79.6% in the first quarter. PKO Investment Management Joint Stock Co now owns 8,800 shares of the company’s stock worth $966,000 after purchasing an additional 3,900 shares during the period. SG Americas Securities LLC lifted its position in shares of Expand Energy by 228.0% during the first quarter. SG Americas Securities LLC now owns 553,079 shares of the company’s stock worth $60,717,000 after acquiring an additional 384,447 shares in the last quarter. Finally, Evolve Private Wealth LLC grew its position in Expand Energy by 40.8% during the 1st quarter. Evolve Private Wealth LLC now owns 4,073 shares of the company’s stock valued at $447,000 after purchasing an additional 1,181 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Up 0.0%

Shares of NASDAQ:EXE opened at $88.47 on Friday. Expand Energy Corporation has a 12-month low of $86.37 and a 12-month high of $126.62. The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 6.60 and a beta of 0.33. The stock’s 50-day moving average price is $93.81 and its two-hundred day moving average price is $102.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE) last issued 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 firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations 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 forecast that Expand Energy Corporation will post 8.7 EPS for the current year.

Expand Energy Announces Dividend

The company also recently declared 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 yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is currently 17.15%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EXE. William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Truist Financial reaffirmed a “buy” rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. UBS Group boosted their price target on shares of Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Benchmark increased their price objective on shares of Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.45.

Insider Transactions at Expand Energy

In other Expand Energy news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $96.43 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price 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 in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 4,000 shares of company stock worth $375,120. Company insiders own 0.22% of the company’s stock.

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.