Bank of New York Mellon Corp Grows Stock Position in Expand Energy Corporation $EXE

Bank of New York Mellon Corp boosted its holdings in Expand Energy Corporation (NASDAQ:EXE) by 94.7% during the first quarter, Holdings Channel.com reports. The fund owned 4,498,905 shares of the company’s stock after acquiring an additional 2,188,422 shares during the period. Bank of New York Mellon Corp’s holdings in Expand Energy were worth $493,890,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EXE. Sierra Summit Advisors LLC raised its position in Expand Energy by 25.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock valued at $8,523,000 after purchasing an additional 15,904 shares during the period. King Luther Capital Management Corp boosted its position in shares of Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock worth $26,443,000 after buying an additional 34,132 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Expand Energy by 36,574.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock valued at $267,172,000 after buying an additional 2,414,311 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Expand Energy during the 4th quarter valued at about $57,153,000. Finally, Romano Brothers AND Company raised its holdings in shares of Expand Energy by 90.9% during the 4th quarter. Romano Brothers AND Company now owns 49,540 shares of the company’s stock valued at $5,467,000 after buying an additional 23,590 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Performance

Expand Energy stock opened at $88.18 on Friday. Expand Energy Corporation has a 52 week low of $84.99 and a 52 week high of $126.62. 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 stock has a market cap of $21.10 billion, a P/E ratio of 6.58 and a beta of 0.34. The stock has a 50 day moving average of $91.46 and a 200-day moving average of $100.03.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.22. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. On average, analysts expect that Expand Energy Corporation will post 8.4 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s dividend payout ratio (DPR) is currently 17.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup reduced their price target on Expand Energy from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. Truist Financial dropped their price objective on shares of Expand Energy from $134.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. UBS Group reduced their target price on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, William Blair downgraded shares of Expand Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and an average price target of $130.19.

Insider Buying and Selling at Expand Energy

In related news, CFO Marcel Teunissen bought 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the purchase, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 4,000 shares of company stock valued at $375,120. 0.22% of the stock is owned by company 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.