Allspring Global Investments Holdings LLC Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,549 shares of the company's stock, valued at approximately $1,077,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EXE. Princeton Global Asset Management LLC bought a new stake in Expand Energy during the first quarter worth approximately $31,000. Peoples Bank KS bought a new stake in Expand Energy in the first quarter worth about $33,000. Future Financial Wealth Managment LLC acquired a new stake in Expand Energy in the 1st quarter valued at about $56,000. Piscataqua Savings Bank bought a new position in shares of Expand Energy during the 1st quarter valued at about $58,000. Finally, Bessemer Group Inc. bought a new position in shares of Expand Energy during the 1st quarter valued at about $75,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Trading Up 0.4%

Shares of EXE stock traded up $0.40 during trading hours on Friday, hitting $105.60. 2,203,127 shares of the company's stock traded hands, compared to its average volume of 3,366,680. The stock's 50 day simple moving average is $114.27 and its 200 day simple moving average is $107.39. The stock has a market cap of $25.13 billion, a PE ratio of -19.70 and a beta of 0.48. Expand Energy Corporation has a 12 month low of $81.66 and a 12 month high of $123.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30.

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

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Thursday, May 15th. Expand Energy's dividend payout ratio (DPR) is presently -42.91%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Jefferies Financial Group set a $135.00 price objective on shares of Expand Energy and gave the company a "buy" rating in a research report on Saturday, June 14th. TD Cowen raised Expand Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $116.00 in a research report on Tuesday, April 8th. 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. Truist Financial decreased their price objective on Expand Energy from $133.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Finally, UBS Group lifted their target price on shares of Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.