Expand Energy Corporation $EXE Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 9.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,444,751 shares of the company’s stock after selling 142,766 shares during the period. Lord Abbett & CO. LLC’s holdings in Expand Energy were worth $159,443,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp boosted its stake in shares of Expand Energy by 74.6% during the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Abound Wealth Management boosted its stake in shares of Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock worth $33,000 after acquiring an additional 267 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Expand Energy by 54.5% during the 4th quarter. Assetmark Inc. now owns 414 shares of the company’s stock worth $46,000 after acquiring an additional 146 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Expand Energy by 85.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 433 shares of the company’s stock worth $46,000 after acquiring an additional 199 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Trading Up 2.0%

Shares of Expand Energy stock opened at $88.78 on Friday. The firm has a market capitalization of $21.24 billion, a PE ratio of 6.62 and a beta of 0.33. Expand Energy Corporation has a twelve month low of $86.80 and a twelve month high of $126.62. The firm’s 50-day moving average price is $96.23 and its 200 day moving average price is $104.55. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion for 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%. On average, sell-side analysts predict that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is currently 17.15%.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $93.36 per share, with a total value of $93,360.00. Following the purchase, the chief executive officer owned 84,498 shares of the company’s stock, valued at $7,888,733.28. This represents a 1.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 9,144 shares in the company, valued at $881,755.92. This represents a 28.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EXE shares. Benchmark increased their target price on shares of Expand Energy from $112.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. KeyCorp reissued a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Wells Fargo & Company set a $123.00 target price on shares of Expand Energy in a research note on Monday, February 23rd. Truist Financial reissued a “buy” rating and set a $134.00 target price (up from $133.00) on shares of Expand Energy in a research note on Thursday, April 30th. Finally, William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

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.