Arizona State Retirement System Makes New $6.69 Million Investment in Expand Energy Corporation (NASDAQ:EXE)

Arizona State Retirement System bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,115 shares of the company's stock, valued at approximately $6,692,000.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the 1st quarter worth about $28,000. Princeton Global Asset Management LLC purchased a new stake in shares of Expand Energy in the first quarter worth approximately $31,000. Peoples Bank KS bought a new stake in shares of Expand Energy during the 1st quarter worth approximately $33,000. Future Financial Wealth Managment LLC bought a new stake in shares of Expand Energy during the 1st quarter worth approximately $56,000. Finally, Westside Investment Management Inc. purchased a new position in Expand Energy during the 1st quarter valued at $56,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Trading Up 3.8%

EXE opened at $109.58 on Tuesday. 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 market cap of $26.08 billion, a price-to-earnings ratio of -20.44 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 stock has a fifty day moving average price of $114.27 and a 200-day moving average price of $107.59.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. As a group, equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 dividend on an annualized basis and a yield of 2.10%. Expand Energy's payout ratio is -42.91%.

Analysts Set New Price Targets

EXE has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Expand Energy from $137.00 to $154.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Wells Fargo & Company upped their price target on shares of Expand Energy from $112.00 to $114.00 and gave the stock an "equal weight" rating in a report on Monday, June 16th. Mizuho lifted their price objective on shares of Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Scotiabank boosted their price objective on shares of Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday. Finally, Jefferies Financial Group set a $135.00 target price on shares of Expand Energy and gave the stock a "buy" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company 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.

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