Pinnacle Associates Ltd. Invests $885,000 in Expand Energy Corporation $EXE

Pinnacle Associates Ltd. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,016 shares of the company’s stock, valued at approximately $885,000.

A number of other hedge funds have also recently added to or reduced their stakes in EXE. Atlantic Union Bankshares Corp increased its position in Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Expand Energy by 350.9% in the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock valued at $27,000 after buying an additional 193 shares during the period. ESL Trust Services LLC acquired a new stake in shares of Expand Energy in the 3rd quarter valued at approximately $32,000. Abound Wealth Management boosted its stake in shares of Expand Energy by 890.0% in the fourth quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after buying an additional 267 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Expand Energy by 85.0% during the third quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after acquiring an additional 199 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Insider Buying and Selling at Expand Energy

In related news, CEO Michael Wichterich acquired 2,000 shares of Expand Energy stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the transaction, the chief executive officer directly owned 83,498 shares of the company’s stock, valued at $8,976,035. The trade was a 2.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Marcel Teunissen bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased 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 SEC filing for this purchase provides additional information. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on EXE. Jefferies Financial Group reissued a “buy” rating and issued a $141.00 target price on shares of Expand Energy in a report on Thursday, February 19th. Stephens upped their price target on shares of Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. TD Cowen upgraded shares of Expand Energy to a “strong-buy” rating in a research note on Monday, February 9th. Truist Financial reissued a “buy” rating and set a $134.00 price objective (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. Finally, Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research report on Monday, February 23rd. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.09.

Expand Energy Price Performance

EXE stock opened at $96.69 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day simple moving average is $102.19 and its 200-day simple moving average is $107.10. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62. The firm has a market capitalization of $23.13 billion, a PE ratio of 7.21 and a beta of 0.36.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $3.53 billion. Equities analysts expect that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

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