Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Expand Energy Corporation $EXE

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 17.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 165,562 shares of the company’s stock after selling 34,927 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Expand Energy were worth $18,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Wealth Management raised its holdings in Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after buying an additional 267 shares during the period. ESL Trust Services LLC purchased a new stake in Expand Energy during the 3rd quarter valued at $32,000. Assetmark Inc. increased its stake in Expand Energy by 54.5% in the fourth quarter. Assetmark Inc. now owns 414 shares of the company’s stock worth $46,000 after purchasing an additional 146 shares during the period. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 199 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in Expand Energy in the third quarter worth $47,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Activity

In other news, CEO Michael Wichterich purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $107.50 per share, with a total value of $215,000.00. Following the transaction, the chief executive officer owned 83,498 shares of the company’s stock, valued at $8,976,035. This represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Expand Energy Price Performance

EXE opened at $96.36 on Thursday. Expand Energy Corporation has a 12-month low of $91.01 and a 12-month high of $126.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $104.46 and its 200-day simple moving average is $107.80. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 12.78 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%.The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.28 billion. On average, equities research analysts anticipate that Expand Energy Corporation will post 8.9 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. Expand Energy’s dividend payout ratio is presently 30.50%.

Analyst Ratings Changes

EXE has been the topic of a number of recent analyst reports. Truist Financial reduced their target price on Expand Energy from $136.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Piper Sandler increased their target price on Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Sanford C. Bernstein reduced their target price on Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Benchmark increased their target price on Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $141.00 target price on shares of Expand Energy in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.95.

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.