Cetera Investment Advisers Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Cetera Investment Advisers acquired a new position in Expand Energy Corporation, purchasing 20,775 shares valued at approximately $2.31 million in the first quarter.
• Expand Energy reported $1.10 EPS for the last quarter, missing analysts' estimates, while generating a revenue of $3.69 billion.
• The company declared a quarterly dividend of $0.575, equating to an annualized dividend of $2.30 per share and a dividend yield of 2.3%.

Cetera Investment Advisers acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,775 shares of the company's stock, valued at approximately $2,313,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Expand Energy during the first quarter worth about $36,507,000. Parallel Advisors LLC purchased a new stake in shares of Expand Energy during the first quarter worth about $286,000. Doliver Advisors LP purchased a new stake in shares of Expand Energy during the first quarter worth about $446,000. Peoples Bank KS purchased a new stake in shares of Expand Energy during the first quarter worth about $33,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Expand Energy during the first quarter worth about $466,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Price Performance

EXE traded down $0.87 during midday trading on Friday, reaching $99.14. 2,532,642 shares of the company's stock were exchanged, compared to its average volume of 3,711,253. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $23.61 billion, a PE ratio of 25.89 and a beta of 0.46. The business's 50-day moving average price is $109.90 and its 200 day moving average price is $107.50. Expand Energy Corporation has a 1-year low of $69.12 and a 1-year high of $123.35.

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

Expand Energy Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's payout ratio is currently 589.74%.

Analyst Ratings Changes

A number of research firms have recently commented on EXE. 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. UBS Group upped their price objective 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. Stephens dropped their price target on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group decreased their price objective on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Finally, Scotiabank increased their target price on shares of Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $128.92.

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.