Cidel Asset Management Inc. Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Cidel Asset Management Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 7,766 shares of the company's stock, valued at approximately $865,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators bought a new position in shares of Expand Energy in the 1st quarter worth about $85,000. Westside Investment Management Inc. bought a new position in shares of Expand Energy during the first quarter valued at approximately $56,000. WASHINGTON TRUST Co acquired a new stake in shares of Expand Energy during the 1st quarter worth approximately $86,000. New York State Teachers Retirement System bought a new stake in shares of Expand Energy in the 1st quarter worth approximately $16,071,000. Finally, Amalgamated Bank acquired a new position in Expand Energy during the 1st quarter valued at approximately $4,670,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Expand Energy Stock Down 4.9%

Shares of EXE stock traded down $5.75 on Tuesday, reaching $111.19. 3,995,973 shares of the company's stock traded hands, compared to its average volume of 3,380,216. The business's 50 day moving average price is $113.80 and its two-hundred day moving average price is $106.87. The company has a market capitalization of $26.46 billion, a P/E ratio of -20.74 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. Expand Energy Corporation has a 12-month low of $81.66 and a 12-month high of $123.35.

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

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were paid a $0.575 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 2.07%. Expand Energy's dividend payout ratio is presently -42.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group raised their target price on Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday. Stephens reduced their target price 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. Jefferies Financial Group set a $135.00 price target on Expand Energy and gave the company a "buy" rating in a report on Saturday, June 14th. KeyCorp set a $135.00 price objective on Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Morgan Stanley raised their target price on Expand Energy from $137.00 to $154.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. 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 data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $128.40.

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.