McAlvany Wealth Management LLC Takes Position in Expand Energy Corporation $EXE

McAlvany Wealth Management LLC bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 15,539 shares of the company’s stock, valued at approximately $1,715,000. Expand Energy comprises approximately 1.3% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in shares of Expand Energy by 161.5% during the third 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. lifted its holdings in Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after buying an additional 2,414,311 shares during the period. Victory Capital Management Inc. boosted its position in Expand Energy by 192.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock valued at $362,683,000 after acquiring an additional 2,160,979 shares in the last quarter. Dragoneer Investment Group LLC bought a new stake in Expand Energy during the 4th quarter valued at approximately $145,633,000. Finally, CIBC Private Wealth Group LLC boosted its position 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 valued at $133,542,000 after acquiring an additional 1,126,363 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EXE shares. UBS Group increased their target price on Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. KeyCorp restated a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. Benchmark upped their price target on Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Barclays cut Expand Energy from an “overweight” rating to a “reduce” rating in a research note on Tuesday, May 26th. Finally, William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.45.

Insiders Place Their Bets

In related news, CEO Michael Wichterich bought 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer owned 85,498 shares in the company, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Marcel Teunissen bought 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the purchase, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $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 have acquired 4,000 shares of company stock valued at $375,120 in the last quarter. 0.22% of the stock is owned by company insiders.

Expand Energy Price Performance

Shares of EXE opened at $86.98 on Friday. Expand Energy Corporation has a fifty-two week low of $86.37 and a fifty-two week high of $126.62. The firm’s 50-day simple moving average is $94.71 and its two-hundred day simple moving average is $103.46. The stock has a market cap of $20.81 billion, a PE ratio of 6.49 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11.

Expand Energy (NASDAQ:EXE) last released its earnings results 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. 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. Analysts anticipate that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is 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.