Levin Capital Strategies L.P. Sells 20,170 Shares of Expand Energy Corporation $EXE

Levin Capital Strategies L.P. reduced its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 9.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,256 shares of the company’s stock after selling 20,170 shares during the quarter. Expand Energy makes up approximately 1.6% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 16th largest position. Levin Capital Strategies L.P. owned approximately 0.08% of Expand Energy worth $21,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in EXE. Kopernik Global Investors LLC lifted its holdings in Expand Energy by 19.4% during the 1st quarter. Kopernik Global Investors LLC now owns 813,632 shares of the company’s stock valued at $89,321,000 after buying an additional 132,053 shares in the last quarter. First Trust Advisors LP increased its position in shares of Expand Energy by 110.0% during the first quarter. First Trust Advisors LP now owns 776,111 shares of the company’s stock worth $85,201,000 after acquiring an additional 406,535 shares during the period. Westpac Banking Corp purchased a new position in shares of Expand Energy during the first quarter worth approximately $472,000. Himension Capital Singapore PTE. LTD. bought a new stake in shares of Expand Energy during the first quarter valued at approximately $15,776,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Expand Energy by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,029 shares of the company’s stock valued at $1,760,000 after acquiring an additional 614 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael Wichterich purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This represents a 1.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marcel Teunissen purchased 2,000 shares of the stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at approximately $881,755.92. This represents a 28.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 4,000 shares of company stock worth $375,120 in the last quarter. 0.22% of the stock is owned by insiders.

Expand Energy Stock Up 5.2%

Expand Energy stock opened at $93.17 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market cap of $22.29 billion, a P/E ratio of 6.95 and a beta of 0.34. The business has a fifty day moving average of $90.90 and a two-hundred day moving average of $99.41. Expand Energy Corporation has a twelve month low of $84.99 and a twelve month high of $126.62.

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

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.5%. Expand Energy’s dividend payout ratio (DPR) is presently 17.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EXE. Weiss Ratings cut Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Expand Energy in a research report on Thursday, April 2nd. Morgan Stanley lowered their target price on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Truist Financial dropped their price target on Expand Energy from $134.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, Barclays downgraded Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Two research 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.19.

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.