Cinctive Capital Management LP Reduces Holdings in Expand Energy Corporation $EXE

Cinctive Capital Management LP trimmed its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 23.8% in the 4th quarter, Holdings Channel reports. The firm owned 183,073 shares of the company’s stock after selling 57,091 shares during the period. Expand Energy accounts for approximately 1.1% of Cinctive Capital Management LP’s portfolio, making the stock its 15th largest position. Cinctive Capital Management LP’s holdings in Expand Energy were worth $20,204,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Expand Energy by 2.4% during the third quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock worth $2,965,510,000 after purchasing an additional 646,330 shares in the last quarter. Capital Research Global Investors increased its position in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. State Street Corp increased its position in shares of Expand Energy by 8.3% during the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares in the last quarter. Invesco Ltd. increased its position in shares of Expand Energy by 16.5% during the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock worth $463,140,000 after purchasing an additional 619,001 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Expand Energy

In other news, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the acquisition, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marcel Teunissen bought 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average price of $96.43 per share, with a total value of $192,860.00. Following the completion of the acquisition, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. This trade represents a 28.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 4,000 shares of company stock worth $375,120 in the last quarter. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EXE shares. Morgan Stanley dropped their target price on Expand Energy from $141.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. Truist Financial restated a “buy” rating and issued a $134.00 target price (up from $133.00) on shares of Expand Energy in a report on Thursday, April 30th. Wells Fargo & Company set a $123.00 target price on Expand Energy in a report on Monday, February 23rd. Jefferies Financial Group restated a “buy” rating and issued a $141.00 target price on shares of Expand Energy in a report on Thursday, February 19th. Finally, Stephens upped their target price on Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.45.

Expand Energy Stock Performance

Shares of Expand Energy stock opened at $87.46 on Thursday. Expand Energy Corporation has a 52 week low of $86.80 and a 52 week high of $126.62. The business’s fifty day simple moving average is $95.28 and its 200-day simple moving average is $103.83. The firm has a market cap of $20.92 billion, a PE ratio of 6.52 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities analysts forecast that Expand Energy Corporation will post 8.87 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy’s payout ratio is presently 17.15%.

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.