E&G Advisors LP Makes New $259,000 Investment in Expand Energy Corporation (NASDAQ:EXE)

E&G Advisors LP purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,323 shares of the company's stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXE. Vaughan Nelson Investment Management L.P. bought a new stake in Expand Energy during the 1st quarter worth about $127,038,000. Canoe Financial LP bought a new stake in shares of Expand Energy in the 1st quarter valued at about $79,015,000. Rhumbline Advisers bought a new stake in shares of Expand Energy in the 1st quarter valued at about $43,592,000. GAMMA Investing LLC bought a new stake in shares of Expand Energy in the 1st quarter valued at about $36,507,000. Finally, Mercuria Capital Strategies LLC bought a new stake in shares of Expand Energy in the 1st quarter valued at about $35,283,000. 97.93% of the stock is owned by institutional investors.

Expand Energy Stock Performance

NASDAQ EXE opened at $122.53 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $29.16 billion, a price-to-earnings ratio of -22.86 and a beta of 0.49. The firm's 50 day simple moving average is $112.73 and its 200 day simple moving average is $106.25. Expand Energy Corporation has a 1 year low of $81.66 and a 1 year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.17. The business 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%. As a group, research analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.30 annualized dividend and a dividend yield of 1.88%. Expand Energy's dividend payout ratio is -42.91%.

Wall Street Analysts Forecast Growth

EXE has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of Expand Energy from $136.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the company a "buy" rating in a research note on Saturday, June 14th. Stephens decreased their price target on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Barclays upgraded shares of Expand Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $115.00 to $122.00 in a research note on Tuesday, April 15th. Finally, KeyCorp set a $135.00 price target on shares of Expand Energy and gave the company an "overweight" rating in a research note on Friday, June 13th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $127.55.

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.

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