Adams Natural Resources Fund Inc. acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 110,100 shares of the company's stock, valued at approximately $12,256,000. Expand Energy accounts for approximately 1.6% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 14th largest holding.
Other institutional investors and hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC purchased a new position in Expand Energy in the 1st quarter valued at about $1,538,000. Exchange Traded Concepts LLC acquired a new position in shares of Expand Energy during the first quarter valued at approximately $408,000. Ritholtz Wealth Management purchased a new position in shares of Expand Energy in the first quarter valued at approximately $256,000. Farther Finance Advisors LLC acquired a new stake in shares of Expand Energy in the first quarter worth approximately $439,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Expand Energy during the first quarter worth approximately $280,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Expand Energy Stock Down 0.3%
EXE traded down $0.41 during trading hours on Thursday, hitting $118.67. 2,407,059 shares of the company's stock were exchanged, compared to its average volume of 3,371,386. The firm has a market cap of $28.24 billion, a P/E ratio of -22.14 and a beta of 0.49. Expand Energy Corporation has a 12-month low of $81.66 and a 12-month high of $123.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $113.02 and a 200 day moving average of $106.34.
Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. Analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.
Expand Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were given a $0.575 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 1.94%. Expand Energy's dividend payout ratio (DPR) is -42.91%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on EXE shares. Stephens decreased their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley raised their price target on shares of Expand Energy from $137.00 to $154.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. 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. Wells Fargo & Company increased their price objective on shares of Expand Energy from $112.00 to $114.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Finally, TD Cowen raised shares of Expand Energy from a "hold" rating to a "buy" rating and raised their target price for the stock from $108.00 to $116.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $127.55.
View Our Latest Analysis on Expand Energy
About Expand Energy
(
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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