Expand Energy Corporation $EXE Shares Acquired by Allstate Corp

Allstate Corp lifted its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 117.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,371 shares of the company’s stock after acquiring an additional 9,921 shares during the period. Allstate Corp’s holdings in Expand Energy were worth $2,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy Pohlad Asset Management LLC raised its stake in shares of Expand Energy by 9.2% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 23,321 shares of the company’s stock worth $2,574,000 after buying an additional 1,970 shares during the last quarter. Clearstead Advisors LLC raised its stake in Expand Energy by 202.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,499 shares of the company’s stock valued at $276,000 after purchasing an additional 1,672 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in Expand Energy in the 4th quarter valued at about $1,181,000. EverSource Wealth Advisors LLC raised its stake in Expand Energy by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,590 shares of the company’s stock valued at $286,000 after purchasing an additional 111 shares during the last quarter. Finally, Orca Wealth Management LLC raised its stake in Expand Energy by 3.2% in the 4th quarter. Orca Wealth Management LLC now owns 19,644 shares of the company’s stock valued at $2,112,000 after purchasing an additional 615 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Stock Up 1.0%

EXE opened at $93.59 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $22.39 billion, a price-to-earnings ratio of 6.98 and a beta of 0.36. The business has a 50-day moving average of $100.37 and a two-hundred day moving average of $106.49. Expand Energy Corporation has a 12 month low of $91.01 and a 12 month high of $126.62.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%. On average, research analysts expect that Expand Energy Corporation will post 8.8 earnings per share for the current year.

Expand Energy Announces Dividend

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

Insider Activity

In other Expand Energy news, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction on Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares of the company’s stock, valued at $881,755.92. This represents a 28.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Wichterich purchased 2,000 shares of the stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $107.50 per share, with a total value of $215,000.00. Following the acquisition, the chief executive officer directly owned 83,498 shares in the company, valued at $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EXE has been the subject of several analyst reports. Barclays downgraded shares of Expand Energy from an “overweight” rating to a “reduce” rating in a research note on Tuesday. UBS Group boosted their target price on shares of Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. TD Cowen raised shares of Expand Energy to a “strong-buy” rating in a research note on Monday, February 9th. Piper Sandler boosted their target price on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings downgraded shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Two equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.45.

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.