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

Phoenix Financial Ltd. lowered its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,074,688 shares of the company’s stock after selling 5,650 shares during the quarter. Expand Energy makes up approximately 1.2% of Phoenix Financial Ltd.’s portfolio, making the stock its 23rd largest holding. Phoenix Financial Ltd.’s holdings in Expand Energy were worth $174,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Expand Energy by 2.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,377 shares of the company’s stock worth $490,000 after acquiring an additional 105 shares during the period. MH & Associates Securities Management Corp ADV raised its holdings in shares of Expand Energy by 0.3% during the third quarter. MH & Associates Securities Management Corp ADV now owns 39,217 shares of the company’s stock valued at $3,298,000 after purchasing an additional 120 shares during the last quarter. QRG Capital Management Inc. lifted its position in Expand Energy by 1.2% during the second quarter. QRG Capital Management Inc. now owns 10,361 shares of the company’s stock valued at $945,000 after purchasing an additional 127 shares during the period. North Dakota State Investment Board lifted its position in Expand Energy by 1.9% during the third quarter. North Dakota State Investment Board now owns 6,891 shares of the company’s stock valued at $579,000 after purchasing an additional 129 shares during the period. Finally, Allworth Financial LP lifted its position in Expand Energy by 2.6% during the third quarter. Allworth Financial LP now owns 5,129 shares of the company’s stock valued at $468,000 after purchasing an additional 130 shares during the period. Institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Performance

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

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

Expand Energy Announces Dividend

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

Analyst Ratings Changes

EXE has been the topic of several research reports. Stephens dropped their target price on shares of Expand Energy from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Scotiabank started coverage on shares of Expand Energy in a research report on Wednesday, October 14th. They issued an “outperform” rating and a $111.00 target price for the company. Morgan Stanley decreased their target price on shares of Expand Energy from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Truist Financial increased their price target on Expand Energy from $120.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Wolfe Research reissued an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.08.

Expand Energy Company Profile

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.