Expand Energy Corporation $EXE Shares Purchased by Canoe Financial LP

Canoe Financial LP increased its stake in Expand Energy Corporation (NASDAQ:EXE) by 1,233.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,093,436 shares of the company’s stock after acquiring an additional 1,011,432 shares during the quarter. Expand Energy comprises approximately 1.7% of Canoe Financial LP’s investment portfolio, making the stock its 24th biggest position. Canoe Financial LP’s holdings in Expand Energy were worth $121,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in shares of Expand Energy by 551.0% in the first quarter. Janney Montgomery Scott LLC now owns 131,017 shares of the company’s stock valued at $14,383,000 after purchasing an additional 110,892 shares during the period. apricus wealth LLC raised its position in shares of Expand Energy by 4.2% during the 1st quarter. apricus wealth LLC now owns 40,495 shares of the company’s stock worth $4,446,000 after purchasing an additional 1,615 shares during the last quarter. Montgomery Investment Management Inc. raised its position in shares of Expand Energy by 15.3% during the 1st quarter. Montgomery Investment Management Inc. now owns 3,390 shares of the company’s stock worth $372,000 after purchasing an additional 450 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Expand Energy by 7.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 92,638 shares of the company’s stock valued at $10,171,000 after buying an additional 6,273 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Expand Energy in the 1st quarter valued at about $1,328,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marcel Teunissen acquired 2,000 shares of the stock in a transaction on 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 purchase, the chief financial officer directly owned 9,144 shares of the company’s stock, valued at $881,755.92. The trade was a 28.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 4,000 shares of company stock valued at $375,120 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EXE. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Weiss Ratings downgraded Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Truist Financial reaffirmed a “buy” rating and issued a $134.00 price target (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Benchmark boosted their price target on Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.45.

Expand Energy Stock Performance

EXE opened at $88.47 on Monday. The firm has a market capitalization of $21.17 billion, a PE ratio of 6.60 and a beta of 0.33. Expand Energy Corporation has a twelve month low of $86.37 and a twelve month high of $126.62. The firm’s 50-day moving average price is $93.81 and its 200 day moving average price is $102.19. 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 announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. As a group, sell-side analysts expect that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders 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 dividend yield of 2.6%. Expand Energy’s dividend payout ratio is 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.