Sterling Capital Management LLC Decreases Position in Expand Energy Corporation $EXE

Sterling Capital Management LLC decreased its position in Expand Energy Corporation (NASDAQ:EXE) by 43.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,660 shares of the company’s stock after selling 5,821 shares during the period. Sterling Capital Management LLC’s holdings in Expand Energy were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Expand Energy during the 1st quarter worth $2,599,000. Ashton Thomas Private Wealth LLC acquired a new stake in Expand Energy in the 1st quarter valued at about $208,000. Focus Partners Wealth purchased a new position in Expand Energy during the 1st quarter valued at about $205,000. Geneos Wealth Management Inc. purchased a new position in Expand Energy during the 1st quarter valued at about $79,000. Finally, Gamco Investors INC. ET AL acquired a new position in Expand Energy during the second quarter worth about $757,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insiders Place Their Bets

In other Expand Energy news, CFO Marcel Teunissen purchased 2,000 shares of Expand Energy stock in a transaction on Thursday, May 7th. The shares were bought at an average price 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 $881,755.92. This trade represents a 28.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Wichterich acquired 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 4,000 shares of company stock worth $375,120. Corporate insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $91.19 on Wednesday. Expand Energy Corporation has a 12-month low of $86.37 and a 12-month high of $126.62. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 6.80 and a beta of 0.33. The company’s 50-day moving average is $93.52 and its two-hundred day moving average is $101.80. 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 issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. Research analysts expect that Expand Energy Corporation will post 8.67 EPS for the current year.

Expand Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXE. Morgan Stanley reduced their price target on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler lifted their price objective on Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Weiss Ratings cut Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. Finally, Barclays downgraded Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

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.