Expand Energy Corporation $EXE Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,937 shares of the company’s stock after selling 92,163 shares during the quarter. Canoe Financial LP’s holdings in Expand Energy were worth $22,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Expand Energy by 4,719.7% during the third quarter. Pacer Advisors Inc. now owns 821,571 shares of the company’s stock valued at $87,284,000 after buying an additional 804,525 shares during the last quarter. Inspire Investing LLC lifted its position in Expand Energy by 22.0% during the 3rd quarter. Inspire Investing LLC now owns 2,878 shares of the company’s stock worth $306,000 after acquiring an additional 519 shares during the period. Vontobel Holding Ltd. lifted its position in Expand Energy by 145.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 14,579 shares of the company’s stock worth $1,549,000 after acquiring an additional 8,635 shares during the period. DAVENPORT & Co LLC grew its stake in Expand Energy by 9.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 12,065 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Net Worth Advisory Group acquired a new position in shares of Expand Energy in the third quarter valued at about $285,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EXE shares. Barclays decreased their target price on Expand Energy from $139.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Piper Sandler lifted their price objective on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Morgan Stanley upped their price objective on shares of Expand Energy from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial reissued a “strong-buy” rating and set a $150.00 target price (up previously from $146.00) on shares of Expand Energy in a report on Thursday, September 11th. Finally, UBS Group upped their price target on shares of Expand Energy from $132.00 to $154.00 and gave the company a “buy” rating in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.44.

Expand Energy Price Performance

Shares of NASDAQ EXE opened at $109.39 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 31.08 and a beta of 0.45. The firm’s 50 day simple moving average is $112.39 and its 200-day simple moving average is $106.94. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Expand Energy had a net margin of 7.99% and a return on equity of 6.31%. Analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, November 13th. Expand Energy’s dividend payout ratio is presently 65.34%.

Expand Energy Company 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.