California Public Employees Retirement System Has $46.49 Million Stake in Expand Energy Corporation $EXE

California Public Employees Retirement System lifted its position in Expand Energy Corporation (NASDAQ:EXE) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 423,523 shares of the company’s stock after buying an additional 6,603 shares during the quarter. California Public Employees Retirement System’s holdings in Expand Energy were worth $46,494,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after acquiring an additional 5,291,948 shares in the last quarter. State Street Corp grew its position 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 in the last quarter. Bank of New York Mellon Corp grew its position in Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after acquiring an additional 2,188,422 shares in the last quarter. Invesco Ltd. increased its stake in shares of 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 purchasing an additional 619,001 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Expand Energy by 192.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analyst Ratings Changes

EXE has been the subject of several analyst reports. Weiss Ratings lowered shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. UBS Group lowered their target price on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. KeyCorp restated a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Truist Financial reduced their price target on Expand Energy from $134.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, Morgan Stanley decreased their price target on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.19.

Insider Activity

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,000 shares of company stock valued at $375,120 in the last three months. 0.22% of the stock is owned by insiders.

Expand Energy Stock Performance

NASDAQ:EXE opened at $86.95 on Tuesday. The firm has a market capitalization of $20.80 billion, a PE ratio of 6.48 and a beta of 0.34. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $91.11 and its 200 day simple moving average is $99.69.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, sell-side analysts anticipate that Expand Energy Corporation will post 8.4 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy’s payout ratio is presently 17.15%.

Expand Energy 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.