Deutsche Bank AG Buys Shares of 759,311 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Deutsche Bank AG acquired a new position in Expand Energy Corporation, purchasing 759,311 shares valued at approximately $84.5 million, representing about 0.32% ownership.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, with a yield of 2.3% and a payout ratio of 589.74%.
• Analysts have set a consensus target price of $128.92 for Expand Energy, with 17 analysts giving it a buy rating.

Deutsche Bank AG acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 759,311 shares of the company's stock, valued at approximately $84,527,000. Deutsche Bank AG owned 0.32% of Expand Energy at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages recently issued reports on EXE. UBS Group boosted their price target on shares of Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Siebert Williams Shank dropped their price objective on shares of Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. The Goldman Sachs Group dropped their price objective on shares of Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. Piper Sandler dropped their price objective on shares of Expand Energy from $140.00 to $136.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Barclays boosted their price objective on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $128.96.

Expand Energy Stock Performance

Expand Energy stock traded down $1.42 during midday trading on Thursday, reaching $95.04. 3,204,180 shares of the company traded hands, compared to its average volume of 3,754,105. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 243.70 and a beta of 0.46. The business has a 50 day moving average of $108.63 and a two-hundred day moving average of $107.30. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share 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 the consensus estimate of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. 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 business also recently disclosed 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. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. Expand Energy's dividend payout ratio is 589.74%.

Expand Energy 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.