New York State Teachers Retirement System Boosts Stock Holdings in Expand Energy Corporation $EXE

New York State Teachers Retirement System raised its stake in Expand Energy Corporation (NASDAQ:EXE) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,544 shares of the company’s stock after acquiring an additional 24,109 shares during the period. New York State Teachers Retirement System’s holdings in Expand Energy were worth $18,613,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd grew its position in shares of Expand Energy by 85.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 111,757 shares of the company’s stock valued at $12,269,000 after purchasing an additional 51,584 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Expand Energy by 750.1% in the first quarter. Elevation Point Wealth Partners LLC now owns 32,473 shares of the company’s stock worth $3,565,000 after purchasing an additional 28,653 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Expand Energy by 142.4% in the first quarter. Root Financial Partners LLC now owns 1,360 shares of the company’s stock worth $149,000 after purchasing an additional 799 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in shares of Expand Energy in the first quarter worth about $201,000. Finally, Deltec Asset Management LLC purchased a new stake in shares of Expand Energy in the first quarter worth about $408,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Performance

NASDAQ:EXE opened at $90.72 on Friday. The firm has a market capitalization of $21.70 billion, a PE ratio of 6.77 and a beta of 0.34. The stock’s fifty day moving average is $93.22 and its 200 day moving average is $101.40. Expand Energy Corporation has a fifty-two week low of $86.37 and a fifty-two week high of $126.62. 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 posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping 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 company 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 8.67 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is 17.15%.

Insider Transactions at Expand Energy

In other news, CFO Marcel Teunissen purchased 2,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Wichterich purchased 1,000 shares of the business’s 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 acquisition, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings cut Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. Morgan Stanley decreased their price objective on Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Piper Sandler increased their target price on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. KeyCorp reissued a “sector weight” rating on shares of Expand Energy in a report on Thursday, April 2nd. Finally, UBS Group boosted their price target on shares of Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.47.

About Expand Energy

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.