Mediolanum International Funds Ltd Buys Shares of 4,691 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Mediolanum International Funds Ltd acquired 4,691 shares of Expand Energy Corporation, valued at approximately $520,000, marking a significant new investment in the company.
• Expand Energy reported Q2 EPS of $1.10, missing consensus estimates by $0.47, with a projected EPS of 1.33 for the current year.
• Several analysts are optimistic, with a consensus "Buy" rating and an average target price of $129.80 for Expand Energy shares, despite fluctuations in individual price targets.

Mediolanum International Funds Ltd bought a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,691 shares of the company's stock, valued at approximately $520,000.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Expand Energy during the 1st quarter worth $518,328,000. Bank of New York Mellon Corp purchased a new stake in shares of Expand Energy during the first quarter valued at $326,670,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Expand Energy in the 1st quarter valued at $127,038,000. Stephens Investment Management Group LLC purchased a new position in Expand Energy in the 1st quarter worth about $108,048,000. Finally, Ninepoint Partners LP purchased a new position in Expand Energy in the 1st quarter worth about $89,056,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Stock Down 2.3%

Shares of Expand Energy stock traded down $2.42 during trading on Friday, hitting $102.37. 1,109,466 shares of the stock traded hands, compared to its average volume of 3,791,483. The company has a fifty day moving average price of $111.72 and a two-hundred day moving average price of $107.72. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The stock has a market cap of $24.36 billion, a P/E ratio of 262.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.59 and a current ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.2%. Expand Energy's dividend payout ratio is currently 589.74%.

Analysts Set New Price Targets

A number of research firms have commented on EXE. Mizuho upped their price objective 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. TD Cowen upgraded shares of Expand Energy from a "hold" rating to a "buy" rating and boosted their price target for the company from $108.00 to $116.00 in a report on Tuesday, April 8th. Scotiabank raised their price objective on shares of Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. The Goldman Sachs Group lowered their price objective on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Finally, Wolfe Research cut their target price on shares of Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $129.50.

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.