Louisiana State Employees Retirement System Makes New Investment in Expand Energy Corporation $EXE

Louisiana State Employees Retirement System acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,100 shares of the company’s stock, valued at approximately $1,328,000.

Several other institutional investors have also recently made changes to their positions in EXE. Siemens Fonds Invest GmbH lifted its stake in shares of Expand Energy by 6.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,383 shares of the company’s stock valued at $147,000 after purchasing an additional 88 shares during the period. New Mexico Educational Retirement Board boosted its holdings in Expand Energy by 1.0% during the third quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the company’s stock worth $1,041,000 after buying an additional 100 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. McGowan Group Asset Management Inc. grew its position in Expand Energy by 0.4% during the fourth quarter. McGowan Group Asset Management Inc. now owns 24,073 shares of the company’s stock valued at $2,657,000 after buying an additional 105 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Expand Energy by 25.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 543 shares of the company’s stock valued at $61,000 after buying an additional 110 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Morgan Stanley lowered their target price on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial restated a “buy” rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. UBS Group lifted their price target on Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, William Blair cut Expand Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.47.

Insider Transactions at Expand Energy

In related news, CFO Marcel Teunissen purchased 2,000 shares of Expand Energy stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,000 shares of company stock valued at $375,120 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

Expand Energy stock opened at $90.72 on Friday. The company’s fifty day moving average price is $93.22 and its 200 day moving average price is $101.40. Expand Energy Corporation has a 1 year low of $86.37 and a 1 year high of $126.62. The stock has a market capitalization of $21.70 billion, a P/E ratio of 6.77 and a beta of 0.34. 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 issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. As a group, equities research analysts anticipate that Expand Energy Corporation will post 8.67 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.5%. Expand Energy’s payout ratio is currently 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.