Intech Investment Management LLC Has $1.84 Million Position in Expand Energy Corporation $EXE

Intech Investment Management LLC reduced its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 54.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,694 shares of the company’s stock after selling 20,087 shares during the quarter. Intech Investment Management LLC’s holdings in Expand Energy were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Expand Energy by 2.4% during the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock worth $2,965,510,000 after purchasing an additional 646,330 shares during the period. Capital Research Global Investors boosted its holdings in shares of Expand Energy by 161.5% during the third quarter. Capital Research Global Investors now owns 15,959,335 shares of the company’s stock worth $1,695,520,000 after purchasing an additional 9,856,576 shares during the period. State Street Corp boosted its holdings in shares of Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares during the period. Invesco Ltd. raised its position in Expand Energy by 16.5% during the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock valued at $463,140,000 after acquiring an additional 619,001 shares in the last quarter. Finally, 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. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael Wichterich purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were bought at an average price of $93.36 per share, with a total value of $93,360.00. Following the completion of 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 is accessible through this hyperlink. Also, CFO Marcel Teunissen purchased 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EXE has been the topic of several recent research reports. TD Cowen raised shares of Expand Energy to a “strong-buy” rating in a research report on Monday, February 9th. UBS Group raised their price objective on shares of Expand Energy from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley cut their price objective on shares of Expand Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. 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, Jefferies Financial Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Expand Energy in a research report on Thursday, February 19th. Two 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.45.

Expand Energy Price Performance

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

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.53 billion. As a group, research analysts expect that Expand Energy Corporation will post 8.8 EPS for the current fiscal year.

Expand Energy Announces Dividend

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

About Expand Energy

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.