Legal & General Group Plc Cuts Stock Position in Expand Energy Corporation $EXE

Legal & General Group Plc cut its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,046,922 shares of the company’s stock after selling 52,829 shares during the period. Legal & General Group Plc’s holdings in Expand Energy were worth $115,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allianz Asset Management GmbH increased its stake in Expand Energy by 12.8% in the third quarter. Allianz Asset Management GmbH now owns 120,840 shares of the company’s stock valued at $12,838,000 after purchasing an additional 13,670 shares during the last quarter. Intech Investment Management LLC increased its stake in Expand Energy by 513.9% in the third quarter. Intech Investment Management LLC now owns 36,781 shares of the company’s stock valued at $3,908,000 after purchasing an additional 30,790 shares during the last quarter. Candriam S.C.A. increased its stake in Expand Energy by 59.0% in the third quarter. Candriam S.C.A. now owns 30,794 shares of the company’s stock valued at $3,272,000 after purchasing an additional 11,428 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Finally, CSM Advisors LLC purchased a new position in Expand Energy in the third quarter valued at approximately $20,103,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EXE shares. Morgan Stanley dropped their price target on shares of Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. KeyCorp reissued a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Wells Fargo & Company set a $123.00 price objective on Expand Energy in a report on Monday, February 23rd. TD Cowen raised Expand Energy to a “strong-buy” rating in a report on Monday, February 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $141.00 price objective on shares of Expand Energy in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Expand Energy currently has a consensus rating of “Moderate Buy” and an average target price of $131.45.

Insider Buying and Selling at Expand Energy

In other news, CFO Marcel Teunissen acquired 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were bought 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 of the company’s stock, valued at $881,755.92. This represents a 28.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Wichterich acquired 2,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, 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. 0.22% of the stock is owned by company insiders.

Expand Energy Price Performance

EXE stock opened at $93.59 on Friday. The company has a market capitalization of $22.39 billion, a P/E ratio of 6.98 and a beta of 0.36. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62. The business has a 50 day simple moving average of $100.37 and a 200-day simple moving average of $106.49. 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 posted 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. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. As a group, equities analysts anticipate that Expand Energy Corporation will post 8.8 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. Investors of record on Thursday, May 14th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. Expand Energy’s dividend payout ratio (DPR) is currently 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.