Bank of New York Mellon Corp Cuts Holdings in Expand Energy Corporation $EXE

Bank of New York Mellon Corp lowered its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 12.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,310,483 shares of the company’s stock after selling 316,573 shares during the period. Bank of New York Mellon Corp’s holdings in Expand Energy were worth $254,985,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its position in Expand Energy by 12.8% during the third quarter. Allianz Asset Management GmbH now owns 120,840 shares of the company’s stock valued at $12,838,000 after acquiring an additional 13,670 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Expand Energy by 513.9% during the third quarter. Intech Investment Management LLC now owns 36,781 shares of the company’s stock worth $3,908,000 after acquiring an additional 30,790 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after acquiring an additional 2,414,311 shares during the last quarter. Candriam S.C.A. boosted its stake in shares of Expand Energy by 59.0% in the 3rd quarter. Candriam S.C.A. now owns 30,794 shares of the company’s stock valued at $3,272,000 after purchasing an additional 11,428 shares in the last quarter. Finally, Sierra Summit Advisors LLC boosted its stake in shares of Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock valued at $8,523,000 after purchasing an additional 15,904 shares in the last quarter. 97.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EXE shares. Morgan Stanley reduced their target price on shares of Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. Stephens lifted their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. William Blair lowered Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Finally, Benchmark increased their target price on Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.45.

Expand Energy Price Performance

EXE opened at $93.40 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $22.34 billion, a PE ratio of 6.96 and a beta of 0.33. The stock’s 50 day moving average price is $98.83 and its 200-day moving average price is $105.60. Expand Energy Corporation has a 52-week low of $90.79 and a 52-week high of $126.62.

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

Expand Energy Dividend Announcement

The firm 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. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 84,498 shares in the company, valued at $7,888,733.28. This trade represents a 1.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marcel Teunissen bought 2,000 shares of the company’s stock in a transaction 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 acquisition, the chief financial officer directly owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This represents a 28.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.22% of the company’s stock.

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.