Cibc World Market Inc. Boosts Stock Position in Expand Energy Corporation $EXE

Cibc World Market Inc. lifted its position in Expand Energy Corporation (NASDAQ:EXE) by 143.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 189,876 shares of the company’s stock after buying an additional 111,727 shares during the quarter. Cibc World Market Inc.’s holdings in Expand Energy were worth $20,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EXE. Capital Research Global Investors raised its holdings in shares of Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock valued at $1,695,520,000 after buying an additional 9,856,576 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Expand Energy by 862.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company’s stock worth $133,542,000 after purchasing an additional 1,126,363 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Expand Energy during the 3rd quarter worth $115,504,000. Finally, State Street Corp grew its stake in Expand Energy by 8.3% during the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Benchmark boosted 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. UBS Group boosted their target price on Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating and set a $141.00 target price on shares of Expand Energy in a research note on Thursday, February 19th. Morgan Stanley lowered their target price on Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, May 22nd. Finally, Stephens boosted their target price on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Expand Energy currently has an average rating of “Moderate Buy” and a consensus target price of $131.45.

Insider Activity at Expand Energy

In related news, CFO Marcel Teunissen acquired 2,000 shares of Expand Energy stock in a transaction 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 approximately $881,755.92. The trade was a 28.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $93.36 per share, with a total value of $93,360.00. Following the completion of the purchase, the chief executive officer owned 84,498 shares in the company, valued at $7,888,733.28. The trade was a 1.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is owned by corporate insiders.

Expand Energy Stock Down 1.4%

EXE opened at $92.07 on Friday. The business has a 50 day moving average price of $98.39 and a two-hundred day moving average price of $105.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $22.03 billion, a PE ratio of 6.87 and a beta of 0.33. Expand Energy Corporation has a 52 week low of $90.79 and a 52 week high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. The firm 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, research analysts anticipate that Expand Energy Corporation will post 8.8 EPS for the current year.

Expand Energy Dividend Announcement

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