48,165 Shares in Expand Energy Corporation (NASDAQ:EXE) Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has acquired a new position in Expand Energy Corporation (NASDAQ:EXE) by purchasing 48,165 shares valued at approximately $5,362,000.
• Expand Energy's recent quarterly earnings showed a miss on EPS estimates, reporting $1.10 compared to the expected $1.14, but revenue surpassed projections at $3.69 billion.
• The company has declared a quarterly dividend of $0.575 per share, representing an annualized dividend of $2.30 and a yield of 2.3%.

Federated Hermes Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 48,165 shares of the company's stock, valued at approximately $5,362,000.

Several other hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. acquired a new stake in Expand Energy in the first quarter valued at $28,000. Princeton Global Asset Management LLC acquired a new stake in Expand Energy in the first quarter valued at $31,000. BankPlus Trust Department acquired a new stake in Expand Energy in the first quarter valued at $32,000. Peoples Bank KS acquired a new stake in Expand Energy in the first quarter valued at $33,000. Finally, TCTC Holdings LLC acquired a new stake in Expand Energy in the first quarter valued at $34,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Trading Down 2.7%

Expand Energy stock opened at $101.97 on Monday. The stock has a market cap of $24.28 billion, a PE ratio of 261.47 and a beta of 0.46. The stock has a 50-day moving average price of $111.44 and a 200 day moving average price of $107.72. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Equities research 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 will be paid on Thursday, September 4th. Shareholders 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 annualized dividend and a yield of 2.3%. Expand Energy's payout ratio is 589.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EXE shares. Wolfe Research reduced their target price on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. The Goldman Sachs Group reduced their target price on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Barclays raised their target price on Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Sanford C. Bernstein upgraded Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a research report on Thursday, May 22nd. Finally, KeyCorp set a $135.00 price target on Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently 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.

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