Allianz Asset Management GmbH Invests $14.68 Million in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Allianz Asset Management GmbH acquired 131,901 shares of Expand Energy Corporation (NASDAQ:EXE) in the 1st quarter, valued at approximately $14.68 million, increasing their ownership to about 0.06% of the company.
• Expand Energy reported $2.02 EPS for the last quarter, exceeding analysts' expectations of $1.85, with total revenue of $2.20 billion against an estimated $2.10 billion.
• The company declared a quarterly dividend of $0.575 per share, reflecting an annualized yield of 2.34% and a negative dividend payout ratio of -42.91%.

Allianz Asset Management GmbH bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 131,901 shares of the company's stock, valued at approximately $14,683,000. Allianz Asset Management GmbH owned approximately 0.06% of Expand Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Expand Energy during the 1st quarter worth $36,507,000. Parallel Advisors LLC acquired a new position in shares of Expand Energy during the 1st quarter worth $286,000. Doliver Advisors LP acquired a new position in shares of Expand Energy during the 1st quarter worth $446,000. Peoples Bank KS acquired a new position in shares of Expand Energy during the 1st quarter worth $33,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Expand Energy during the 1st quarter worth $466,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXE. TD Cowen upgraded shares of Expand Energy from a "hold" rating to a "buy" rating and raised their target price for the company from $108.00 to $116.00 in a research note on Tuesday, April 8th. KeyCorp set a $135.00 target price on shares of Expand Energy and gave the company an "overweight" rating in a research note on Friday, June 13th. Benchmark raised their target price on shares of Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. Mizuho raised their target price on shares of Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler raised their target price on shares of Expand Energy from $136.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $129.80.

Expand Energy Price Performance

Shares of NASDAQ:EXE traded up $1.42 during midday trading on Tuesday, reaching $99.55. 669,123 shares of the company's stock were exchanged, compared to its average volume of 3,755,887. The company's 50 day simple moving average is $112.43 and its two-hundred day simple moving average is $107.78. The firm has a market capitalization of $23.69 billion, a PE ratio of -18.59 and a beta of 0.48. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. Equities research analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

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.