Bank of New York Mellon Corp Buys New Shares in Expand Energy Corporation (NASDAQ:EXE)

Bank of New York Mellon Corp acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,934,513 shares of the company's stock, valued at approximately $326,670,000. Bank of New York Mellon Corp owned approximately 1.26% of Expand Energy as of its most recent SEC filing.

Several other large investors have also modified their holdings of EXE. First Horizon Advisors Inc. purchased a new stake in shares of Expand Energy during the first quarter worth $28,000. Princeton Global Asset Management LLC acquired a new stake in Expand Energy during the first quarter worth about $31,000. Peoples Bank KS acquired a new stake in Expand Energy during the first quarter worth about $33,000. Future Financial Wealth Managment LLC acquired a new stake in Expand Energy during the first quarter valued at approximately $56,000. Finally, Westside Investment Management Inc. acquired a new stake in Expand Energy during the first quarter valued at approximately $56,000. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXE shares. JPMorgan Chase & Co. reduced their target price on Expand Energy from $115.00 to $114.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Barclays upped their target price on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday. KeyCorp set a $135.00 price objective on shares of Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. Jefferies Financial Group set a $135.00 price objective on shares of Expand Energy and gave the stock a "buy" rating in a research note on Saturday, June 14th. Finally, TD Cowen upgraded shares of Expand Energy from a "hold" rating to a "buy" rating and raised their target price for the company from $108.00 to $116.00 in a research note on Tuesday, April 8th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $129.25.

Expand Energy Price Performance

NASDAQ:EXE remained flat at $105.20 during mid-day trading on Thursday. 2,646,228 shares of the company were exchanged, compared to its average volume of 3,370,414. The business has a 50 day simple moving average of $114.24 and a 200-day simple moving average of $107.33. The stock has a market capitalization of $25.04 billion, a PE ratio of -19.63 and a beta of 0.48. Expand Energy Corporation has a fifty-two week low of $81.66 and a fifty-two week 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 posted its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. Equities analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 2.19%. Expand Energy's payout ratio is -42.91%.

About Expand Energy

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.