DAVENPORT & Co LLC Acquires New Stake in Expand Energy Corporation (NASDAQ:EXE)

DAVENPORT & Co LLC acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,047 shares of the company's stock, valued at approximately $1,230,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Expand Energy during the 1st quarter worth $2,506,000. Cidel Asset Management Inc. acquired a new stake in shares of Expand Energy during the 1st quarter worth $865,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of Expand Energy during the 1st quarter worth $85,000. Westside Investment Management Inc. acquired a new stake in shares of Expand Energy during the 1st quarter worth $56,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Expand Energy during the 1st quarter worth $86,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial dropped their price objective on Expand Energy from $133.00 to $131.00 and set a "buy" rating for the company in a report on Monday, March 17th. Benchmark increased their price target on Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a report on Thursday, April 3rd. Mizuho increased their price target on Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Stephens lowered their price target on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen raised shares of Expand Energy from a "hold" rating to a "buy" rating and upped their price objective for the company from $108.00 to $116.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $128.40.

Expand Energy Stock Performance

EXE traded down $2.39 on Friday, hitting $107.95. 1,807,029 shares of the company's stock were exchanged, compared to its average volume of 3,372,384. The firm has a market cap of $25.69 billion, a PE ratio of -20.14 and a beta of 0.48. Expand Energy Corporation has a twelve month low of $81.66 and a twelve month high of $123.35. The stock has a fifty day moving average of $114.20 and a two-hundred day moving average of $107.16. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30.

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

Expand Energy Announces Dividend

The company also recently declared 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 of this dividend was Thursday, May 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.13%. Expand Energy's payout ratio is currently -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.