5,650 Expand Energy Corporation $EXE Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 0.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,074,688 shares of the company’s stock after selling 5,650 shares during the period. Expand Energy accounts for 1.2% of Phoenix Financial Ltd.’s portfolio, making the stock its 23rd largest position. Phoenix Financial Ltd. owned approximately 0.90% of Expand Energy worth $174,463,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. McKinney Capital Management LLC bought a new stake in shares of Expand Energy in the 3rd quarter worth approximately $1,359,000. Moors & Cabot Inc. grew its stake in shares of Expand Energy by 9.3% in the 3rd quarter. Moors & Cabot Inc. now owns 3,433 shares of the company’s stock worth $289,000 after buying an additional 291 shares during the last quarter. William Blair Investment Management LLC increased its position in Expand Energy by 4.9% during the 3rd quarter. William Blair Investment Management LLC now owns 3,322 shares of the company’s stock valued at $279,000 after buying an additional 154 shares in the last quarter. Allworth Financial LP increased its position in Expand Energy by 2.6% during the 3rd quarter. Allworth Financial LP now owns 5,129 shares of the company’s stock valued at $468,000 after buying an additional 130 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Expand Energy by 5.4% during the 3rd quarter. Fifth Third Bancorp now owns 64,127 shares of the company’s stock valued at $5,392,000 after buying an additional 3,267 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group dropped their target price on Expand Energy from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Truist Financial increased their target price on Expand Energy from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Wolfe Research restated an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Stifel Nicolaus started coverage on Expand Energy in a research report on Wednesday, September 9th. They issued a “buy” rating and a $135.00 price target for the company. Finally, Sanford C. Bernstein lowered their price target on Expand Energy from $139.00 to $136.00 and set an “outperform” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.08.

Expand Energy Stock Up 0.8%

Shares of EXE traded up $0.73 on Friday, hitting $88.53. 2,113,682 shares of the stock traded hands, compared to its average volume of 3,391,030. The company has a market capitalization of $20.45 billion, a PE ratio of 7.67 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day simple moving average of $89.93 and a 200 day simple moving average of $95.89. Expand Energy Corporation has a one year low of $83.25 and a one year high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, October 27th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.17. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Expand Energy had a return on equity of 10.69% and a net margin of 19.78%. As a group, equities analysts forecast that Expand Energy Corporation will post 8.73 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be paid a $0.5750 dividend. The ex-dividend date is Thursday, November 12th. This represents a $2.30 annualized dividend and a dividend yield of 2.6%. Expand Energy’s payout ratio is currently 19.93%.

About Expand Energy

Expand Energy Corporation is an independent natural gas exploration and production company focused on developing U.S. shale resources. Its activities include acquiring, exploring and operating oil and natural gas properties, with natural gas as its primary product. The company’s operations are concentrated in the Haynesville region of Louisiana and the Appalachia region, which includes the Marcellus and Utica formations. Its production supports the domestic natural gas market and related energy infrastructure.