Delphi Financial Group Inc. Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Delphi Financial Group Inc. has made a new investment of approximately $4.09 million in Expand Energy Corporation, acquiring 36,720 shares in the first quarter of 2023.
• Expand Energy's stock has recently seen analysts lowering their price targets, with a consensus rating of "Buy" and a price target of $128.92.
• The company declared a quarterly dividend of $0.575 per share, scheduled for payment on September 4th, representing a yield of 2.3%.

Delphi Financial Group Inc. purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,720 shares of the company's stock, valued at approximately $4,088,000. Expand Energy makes up 2.5% of Delphi Financial Group Inc.'s holdings, making the stock its 11th biggest position.

A number of other hedge funds have also made changes to their positions in EXE. Harbour Investments Inc. purchased a new stake in Expand Energy in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the 1st quarter valued at about $28,000. Pinney & Scofield Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at about $29,000. Cheviot Value Management LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EXE shares. Piper Sandler lifted their price objective on Expand Energy from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. UBS Group boosted their price target on Expand Energy from $144.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research report on Thursday, May 22nd. Roth Capital set a $125.00 price target on Expand Energy in a research report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price target on Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $128.92.

Expand Energy Stock Performance

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

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) 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 business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. On average, sell-side analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is presently 589.74%.

Expand Energy Company 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.