Canoe Financial LP Lowers Stock Holdings in Expand Energy Corporation $EXE

Canoe Financial LP cut its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 29.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 218,937 shares of the company’s stock after selling 92,163 shares during the quarter. Canoe Financial LP owned approximately 0.09% of Expand Energy worth $22,685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Expand Energy during the 1st quarter worth $341,708,000. Zurich Insurance Group Ltd FI bought a new position in shares of Expand Energy during the 1st quarter worth $108,986,000. 59 North Capital Management LP purchased a new position in shares of Expand Energy during the second quarter valued at $102,949,000. Encompass Capital Advisors LLC bought a new stake in shares of Expand Energy in the first quarter valued at about $96,581,000. Finally, Pacer Advisors Inc. lifted its stake in Expand Energy by 4,719.7% in the third quarter. Pacer Advisors Inc. now owns 821,571 shares of the company’s stock worth $87,284,000 after acquiring an additional 804,525 shares during the period. Institutional investors own 97.93% of the company’s stock.

Expand Energy Trading Down 1.6%

NASDAQ:EXE opened at $109.39 on Friday. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 31.08 and a beta of 0.45. Expand Energy Corporation has a 52 week low of $91.01 and a 52 week high of $126.62. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $112.39 and a 200 day moving average of $106.94.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. Expand Energy had a net margin of 7.99% and a return on equity of 6.31%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.98 billion. As a group, sell-side analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th were paid a $0.575 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.1%. Expand Energy’s dividend payout ratio (DPR) is 65.34%.

Wall Street Analyst Weigh In

EXE has been the topic of a number of research reports. Wells Fargo & Company raised shares of Expand Energy to a “hold” rating in a research report on Thursday, October 16th. Morgan Stanley increased their price objective on shares of Expand Energy from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. William Blair started coverage on shares of Expand Energy in a research note on Tuesday, October 14th. They issued an “outperform” rating for the company. Raymond James Financial restated a “strong-buy” rating and set a $150.00 target price (up previously from $146.00) on shares of Expand Energy in a report on Thursday, September 11th. Finally, Piper Sandler lifted their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.44.

Expand Energy Company 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.