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

Phoenix Financial Ltd. reduced its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 15.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,356,470 shares of the company’s stock after selling 241,631 shares during the period. Expand Energy comprises about 1.6% of Phoenix Financial Ltd.’s investment portfolio, making the stock its 17th largest holding. Phoenix Financial Ltd.’s holdings in Expand Energy were worth $149,699,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Expand Energy by 2.4% during the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock valued at $2,965,510,000 after buying an additional 646,330 shares during the period. Capital Research Global Investors lifted its stake in Expand Energy by 161.5% in the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock worth $1,695,520,000 after acquiring an additional 9,856,576 shares during the period. State Street Corp lifted its stake in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares during the period. Invesco Ltd. grew its holdings in Expand Energy by 16.5% during the 3rd quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock worth $463,140,000 after acquiring an additional 619,001 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Expand Energy by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,279,315 shares of the company’s stock worth $242,166,000 after acquiring an additional 10,597 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Expand Energy

In other news, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction dated 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 directly owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 acquired at an average cost of $107.50 per share, with a total value of $215,000.00. Following the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark boosted their price target on shares of Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Jefferies Financial Group reissued a “buy” rating and issued a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. Finally, Truist Financial restated 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.09.

Expand Energy Stock Up 1.1%

NASDAQ:EXE opened at $96.70 on Friday. 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 Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. The company has a market cap of $23.13 billion, a PE ratio of 7.21 and a beta of 0.36. The company’s 50 day moving average is $102.38 and its two-hundred day moving average is $107.15.

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

Expand Energy Announces Dividend

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