Geode Capital Management LLC Sells 208,238 Shares of Expand Energy Corporation $EXE

Geode Capital Management LLC lowered its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,421,429 shares of the company’s stock after selling 208,238 shares during the period. Geode Capital Management LLC’s holdings in Expand Energy were worth $706,042,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp raised its holdings in Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Rakuten Securities Inc. raised its holdings in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after buying an additional 193 shares during the last quarter. ESL Trust Services LLC purchased a new position in Expand Energy in the third quarter worth about $32,000. Abound Wealth Management raised its holdings in Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company’s stock worth $33,000 after buying an additional 267 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Expand Energy by 85.0% in the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after buying an additional 199 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

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

Analyst Ratings Changes

Several brokerages have issued reports on EXE. Piper Sandler lifted their target price on shares of Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Morgan Stanley decreased their target price on shares of Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. UBS Group lifted their target price 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. Barclays cut shares of Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. 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. Based on data from MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and an average price target of $131.45.

Expand Energy Stock Down 0.7%

EXE opened at $92.98 on Friday. 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 firm has a 50 day moving average price of $100.12 and a 200-day moving average price of $106.40. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 6.93 and a beta of 0.36.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, beating 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 firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Equities research analysts forecast that Expand Energy Corporation will post 8.8 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, May 14th. Expand Energy’s payout ratio 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.