Principal Financial Group Inc. bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 420,508 shares of the company's stock, valued at approximately $46,811,000. Principal Financial Group Inc. owned about 0.18% of Expand Energy as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Expand Energy during the first quarter worth about $1,179,000. Cambridge Investment Research Advisors Inc. purchased a new position in Expand Energy in the first quarter valued at about $1,383,000. Bessemer Group Inc. purchased a new position in Expand Energy in the first quarter valued at about $75,000. Miracle Mile Advisors LLC purchased a new position in Expand Energy in the first quarter valued at about $1,538,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Expand Energy in the first quarter valued at about $215,000. 97.93% of the stock is owned by hedge funds and other institutional investors.
Expand Energy Stock Down 1.1%
Expand Energy stock traded down $1.18 during midday trading on Wednesday, hitting $105.20. 3,383,030 shares of the stock were exchanged, compared to its average volume of 3,374,206. Expand Energy Corporation has a 1 year low of $81.66 and a 1 year high of $123.35. The firm has a market cap of $25.04 billion, a P/E ratio of -19.63 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50 day moving average price of $114.24 and a two-hundred day moving average price of $107.33.
Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. On average, sell-side analysts predict 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 was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, May 15th. Expand Energy's dividend payout ratio (DPR) is presently -42.91%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the company a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. lowered their price target on shares of Expand Energy from $115.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Barclays increased their price target on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $129.25.
View Our Latest Research Report on Expand Energy
Expand Energy Profile
(
Free Report)
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.
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