Fearnley Asset Management AS Takes $12.14 Million Position in Expand Energy Corporation $EXE

Fearnley Asset Management AS purchased a new stake in Expand Energy Corporation (NASDAQ:EXE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 109,970 shares of the company’s stock, valued at approximately $12,136,000. Expand Energy makes up 5.6% of Fearnley Asset Management AS’s holdings, making the stock its 8th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its position in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Expand Energy by 350.9% during the 4th quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Expand Energy during the 4th quarter worth $30,000. Abound Wealth Management raised its holdings in shares of Expand Energy by 890.0% during the 4th quarter. Abound Wealth Management now owns 297 shares of the company’s stock valued at $33,000 after purchasing an additional 267 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Expand Energy by 564.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 319 shares of the company’s stock valued at $35,000 after purchasing an additional 271 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EXE shares. Barclays cut shares of Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Wells Fargo & Company set a $123.00 target price on Expand Energy in a report on Monday, February 23rd. William Blair downgraded Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. UBS Group upped their price target on Expand Energy from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Piper Sandler increased their price objective on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and an average target price of $131.45.

Expand Energy Price Performance

NASDAQ EXE opened at $86.98 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $94.71 and a 200 day simple moving average of $103.46. The company has a market cap of $20.81 billion, a P/E ratio of 6.49 and a beta of 0.33. Expand Energy Corporation has a 1 year low of $86.37 and a 1 year high of $126.62.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts predict that Expand Energy Corporation will post 8.7 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy’s payout ratio is presently 17.15%.

Insider Activity

In other Expand Energy news, CFO Marcel Teunissen bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the purchase, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Wichterich bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 4,000 shares of company stock valued at $375,120 in the last three months. 0.22% of the stock is owned by insiders.

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.