Expand Energy Corporation $EXE Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Expand Energy Corporation (NASDAQ:EXE) by 99.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,222 shares of the company’s stock after selling 889,713 shares during the period. Jennison Associates LLC’s holdings in Expand Energy were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. McAlvany Wealth Management LLC grew its holdings in Expand Energy by 7.8% in the first quarter. McAlvany Wealth Management LLC now owns 16,745 shares of the company’s stock valued at $1,866,000 after purchasing an additional 1,206 shares during the period. California Public Employees Retirement System increased its position in shares of Expand Energy by 1.6% in the first quarter. California Public Employees Retirement System now owns 423,523 shares of the company’s stock valued at $46,494,000 after buying an additional 6,603 shares in the last quarter. Atlas Wealth LLC acquired a new position in shares of Expand Energy during the 1st quarter worth approximately $89,000. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Expand Energy during the 1st quarter valued at approximately $875,000. Finally, Bessemer Group Inc. lifted its position in shares of Expand Energy by 275.4% during the 1st quarter. Bessemer Group Inc. now owns 2,733 shares of the company’s stock valued at $300,000 after buying an additional 2,005 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analyst Upgrades and Downgrades

EXE has been the topic of a number of research analyst reports. UBS Group dropped their price target on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Weiss Ratings cut shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Morgan Stanley decreased their price objective on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. Finally, Barclays cut shares of Expand Energy from an “overweight” rating to a “reduce” rating in a research note on Tuesday, May 26th. Two research 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 issued a Sell rating to the company. Based on data from MarketBeat, Expand Energy currently has an average rating of “Moderate Buy” and a consensus price target of $130.19.

Insider Transactions at Expand Energy

In other Expand Energy news, CEO Michael Wichterich purchased 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marcel Teunissen acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $96.43 per share, with a total value of $192,860.00. Following the purchase, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. This represents a 28.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 4,000 shares of company stock valued at $375,120 over the last quarter. Company insiders own 0.22% of the company’s stock.

Expand Energy Stock Down 1.5%

Shares of EXE opened at $91.73 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 6.84 and a beta of 0.34. The stock has a 50 day moving average price of $90.80 and a 200 day moving average price of $99.29.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. Equities research analysts forecast that Expand Energy Corporation will post 8.4 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. Stockholders of record on Thursday, May 14th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend payout ratio is 17.15%.

About Expand Energy

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.