Expand Energy Corporation $EXE Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Expand Energy Corporation (NASDAQ:EXE) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 358,265 shares of the company’s stock after selling 12,929 shares during the period. Hsbc Holdings PLC’s holdings in Expand Energy were worth $39,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Sierra Summit Advisors LLC boosted its stake in shares of Expand Energy by 25.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after buying an additional 15,904 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 2,414,311 shares in the last quarter. King Luther Capital Management Corp raised its position in Expand Energy by 16.6% during the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock valued at $26,443,000 after acquiring an additional 34,132 shares in the last quarter. Swiss National Bank lifted its holdings in Expand Energy by 2.8% in the third quarter. Swiss National Bank now owns 651,656 shares of the company’s stock valued at $69,232,000 after acquiring an additional 17,700 shares during the period. Finally, CSM Advisors LLC acquired a new position in Expand Energy in the third quarter valued at approximately $20,103,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Insider Activity

In related news, CEO Michael Wichterich bought 1,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcel Teunissen bought 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were bought at an average cost of $96.43 per share, with a total value of $192,860.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 4,000 shares of company stock worth $375,120. Company insiders own 0.22% of the company’s stock.

Expand Energy Trading Down 2.0%

Shares of EXE stock opened at $88.89 on Tuesday. Expand Energy Corporation has a 1-year low of $86.37 and a 1-year high of $126.62. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 11.48 and a beta of 0.34. 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 50 day simple moving average of $93.07 and a 200-day simple moving average of $101.21.

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, beating analysts’ consensus estimates of $3.61 by $0.22. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. On average, equities research analysts expect that Expand Energy Corporation will post 8.67 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on EXE. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. 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. Truist Financial reissued a “buy” rating and set a $134.00 price target (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. William Blair lowered shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley cut their price objective on shares of Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.72.

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.