Pictet Asset Management Holding SA Buys 6,273 Shares of Expand Energy Corporation $EXE

Pictet Asset Management Holding SA raised its stake in Expand Energy Corporation (NASDAQ:EXE) by 7.3% during the first quarter, HoldingsChannel reports. The fund owned 92,638 shares of the company’s stock after buying an additional 6,273 shares during the period. Pictet Asset Management Holding SA’s holdings in Expand Energy were worth $10,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EXE. Sierra Summit Advisors LLC lifted its stake in shares of Expand Energy by 25.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after buying an additional 15,904 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. King Luther Capital Management Corp lifted its position in Expand Energy by 16.6% in the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock valued at $26,443,000 after acquiring an additional 34,132 shares in the last quarter. Swiss National Bank lifted its position in Expand Energy by 2.8% in the 3rd quarter. Swiss National Bank now owns 651,656 shares of the company’s stock valued at $69,232,000 after acquiring an additional 17,700 shares in the last quarter. Finally, CSM Advisors LLC purchased a new stake in Expand Energy during the 3rd quarter valued at $20,103,000. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on EXE shares. Weiss Ratings lowered Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Morgan Stanley decreased their target price on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Piper Sandler upped their target price on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.47.

Insider Activity

In related news, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were bought at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, the chief financial officer owned 9,144 shares in the company, valued at approximately $881,755.92. This represents a 28.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 4,000 shares of company stock worth $375,120 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Expand Energy Stock Performance

Shares of EXE stock opened at $90.72 on Friday. 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 has a market cap of $21.70 billion, a price-to-earnings ratio of 6.77 and a beta of 0.34. Expand Energy Corporation has a 1 year low of $86.37 and a 1 year high of $126.62. The firm has a fifty day moving average price of $93.22 and a 200-day moving average price of $101.40.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations 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 predict that Expand Energy Corporation will post 8.67 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a $0.575 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. Expand Energy’s dividend 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.