First Trust Advisors LP Sells 70,181 Shares of Expand Energy Corporation $EXE

First Trust Advisors LP lessened its position in Expand Energy Corporation (NASDAQ:EXE) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 332,251 shares of the company’s stock after selling 70,181 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of Expand Energy worth $35,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EXE. Phoenix Financial Ltd. purchased a new position in shares of Expand Energy in the third quarter worth $169,783,000. 59 North Capital Management LP bought a new position in Expand Energy in the 2nd quarter worth $102,949,000. Victory Capital Management Inc. lifted its position in shares of Expand Energy by 288.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,125,382 shares of the company’s stock valued at $119,561,000 after buying an additional 835,499 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of 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 purchasing an additional 804,525 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Expand Energy by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,396,701 shares of the company’s stock worth $631,090,000 after buying an additional 740,502 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Wichterich purchased 2,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $107.50 per share, for a total transaction of $215,000.00. Following the purchase, the chief executive officer owned 83,498 shares of the company’s stock, valued at $8,976,035. This trade represents a 2.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Expand Energy Price Performance

EXE opened at $107.83 on Friday. The firm has a market capitalization of $25.92 billion, a PE ratio of 14.30 and a beta of 0.47. The business’s 50-day moving average is $105.96 and its two-hundred day moving average is $106.89. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. Expand Energy had a net margin of 15.00% and a return on equity of 8.17%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.28 billion. Research 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 will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.575 per share. The ex-dividend date is Thursday, March 5th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. Expand Energy’s payout ratio is presently 30.50%.

Analysts Set New Price Targets

Several analysts recently issued reports on EXE shares. Wells Fargo & Company set a $123.00 target price on Expand Energy in a research note on Monday, February 23rd. Stephens boosted their price objective on Expand Energy from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Piper Sandler increased their target price on shares of Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings raised Expand Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Finally, TD Cowen raised shares of Expand Energy to a “strong-buy” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Expand Energy has a consensus rating of “Buy” and an average price target of $131.17.

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.