CenterBook Partners LP Grows Position in Expand Energy Corporation $EXE

CenterBook Partners LP boosted its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 55.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,610 shares of the company’s stock after purchasing an additional 8,782 shares during the period. CenterBook Partners LP’s holdings in Expand Energy were worth $2,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EXE. Capital Research Global Investors lifted its position in Expand Energy by 161.5% during the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock valued at $1,695,520,000 after purchasing an additional 9,856,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Expand Energy by 862.3% during the third quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company’s stock valued at $133,542,000 after purchasing an additional 1,126,363 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Expand Energy during the third quarter valued at $115,504,000. Finally, State Street Corp lifted its position in Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Marcel Teunissen bought 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the completion of the acquisition, the chief financial officer owned 9,144 shares of the company’s stock, valued at $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Wichterich bought 1,000 shares of Expand Energy stock in a transaction dated Thursday, June 4th. The stock was purchased at an average cost of $93.36 per share, for a total transaction of $93,360.00. Following the completion of the acquisition, the chief executive officer directly owned 84,498 shares of the company’s stock, valued at approximately $7,888,733.28. The trade was a 1.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Expand Energy Price Performance

Shares of Expand Energy stock opened at $90.42 on Tuesday. The stock’s 50-day simple moving average is $97.98 and its 200-day simple moving average is $105.24. Expand Energy Corporation has a 52 week low of $90.31 and a 52 week high of $126.62. The company has a market capitalization of $21.63 billion, a price-to-earnings ratio of 6.74 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts expect that Expand Energy Corporation will post 8.7 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s payout ratio is 17.15%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXE shares. Morgan Stanley lowered their target price on Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Benchmark boosted their price objective on Expand Energy from $112.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Piper Sandler boosted their price objective on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and issued a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Finally, KeyCorp restated a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company 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.