Avantax Advisory Services Inc. Makes New $917,000 Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Avantax Advisory Services Inc. has acquired a new stake in Expand Energy Corporation, purchasing 8,235 shares valued at approximately $917,000 during the first quarter.
• Expand Energy reported quarterly earnings of $1.10 per share, falling short of the consensus estimate of $1.14, while revenue came in significantly higher at $3.69 billion compared to expectations of $2.09 billion.
• The company recently announced a quarterly dividend of $0.575 per share, with a dividend yield of 2.3%, set to be paid on September 4th.

Avantax Advisory Services Inc. acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,235 shares of the company's stock, valued at approximately $917,000.

A number of other large investors also recently made changes to their positions in EXE. First Horizon Advisors Inc. bought a new position in Expand Energy during the first quarter worth about $28,000. Princeton Global Asset Management LLC bought a new position in shares of Expand Energy in the first quarter worth $31,000. BankPlus Trust Department bought a new stake in shares of Expand Energy during the 1st quarter valued at $32,000. Peoples Bank KS purchased a new stake in Expand Energy during the 1st quarter worth about $33,000. Finally, Key Financial Inc bought a new position in Expand Energy in the 1st quarter worth about $41,000. 97.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on EXE shares. Siebert Williams Shank reduced their price objective on shares of Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. The Goldman Sachs Group decreased their target price on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Morgan Stanley raised their target price on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Bernstein Bank decreased their price objective on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $128.92.

Expand Energy Price Performance

EXE stock traded down $0.74 during mid-day trading on Monday, hitting $101.23. The company had a trading volume of 3,675,475 shares, compared to its average volume of 3,801,874. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 259.57 and a beta of 0.47. The company has a 50-day moving average price of $111.44 and a 200 day moving average price of $107.72. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a 12-month low of $69.12 and a 12-month high of $123.35.

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 the consensus estimate of $1.14 by ($0.04). The firm 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%. On average, research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Announces Dividend

The business 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 of this dividend is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

Expand Energy 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.