Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 68,120 shares of the company's stock, valued at approximately $7,583,000.
Several other institutional investors have also made changes to their positions in the business. Townsquare Capital LLC acquired a new stake in shares of Expand Energy during the 1st quarter valued at about $1,153,000. Zions Bancorporation National Association UT acquired a new position in Expand Energy in the first quarter valued at about $32,000. National Bank of Canada FI acquired a new position in Expand Energy in the first quarter valued at about $19,138,000. Citigroup Inc. acquired a new position in Expand Energy in the first quarter valued at about $43,173,000. Finally, Swiss National Bank acquired a new position in Expand Energy in the first quarter valued at about $65,307,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have commented on EXE. Wolfe Research reduced their price target on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Wells Fargo & Company reduced their price target on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. KeyCorp set a $135.00 price target on shares of Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. Morgan Stanley boosted their price target on shares of Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group set a $135.00 target price on shares of Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. 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's stock. According to data from MarketBeat, Expand Energy presently has an average rating of "Buy" and an average price target of $128.96.
Read Our Latest Stock Analysis on EXE
Expand Energy Stock Performance
Shares of NASDAQ EXE traded down $0.36 during mid-day trading on Friday, reaching $94.63. 4,476,907 shares of the company were exchanged, compared to its average volume of 3,764,241. The company's 50-day simple moving average is $108.22 and its 200-day simple moving average is $107.26. 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 stock has a market capitalization of $22.54 billion, a P/E ratio of 242.25 and a beta of 0.46. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35.
Expand Energy (NASDAQ:EXE - Get Free Report) last posted 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 company 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, research analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current year.
Expand Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.
Expand Energy Company Profile
(
Free Report)
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.
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