Bank of Nova Scotia Takes $2.14 Million Position in Expand Energy Corporation (NASDAQ:EXE)

Bank of Nova Scotia acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,223 shares of the company's stock, valued at approximately $2,140,000.

Several other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Expand Energy during the first quarter worth about $3,757,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Expand Energy during the first quarter worth about $1,179,000. Wedbush Securities Inc. purchased a new position in shares of Expand Energy during the first quarter worth about $210,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Expand Energy during the first quarter worth about $1,383,000. Finally, Bessemer Group Inc. purchased a new position in shares of Expand Energy during the first quarter worth about $75,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EXE shares. Scotiabank upped their price target on shares of Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Capital One Financial lowered their price target on shares of Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Stephens decreased their target price on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Finally, Morgan Stanley upped their target price on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $128.92.

Expand Energy Trading Down 0.9%

EXE traded down $0.87 during trading hours on Friday, reaching $99.14. 2,532,642 shares of the company's stock traded hands, compared to its average volume of 3,711,253. The firm has a 50-day moving average price of $109.90 and a 200 day moving average price of $107.50. Expand Energy Corporation has a 52-week low of $69.12 and a 52-week high of $123.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $23.61 billion, a PE ratio of 254.21 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. The firm had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $2.09 billion. As a group, sell-side analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's payout ratio is presently 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.