Picton Mahoney Asset Management Increases Stake in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Picton Mahoney Asset Management has increased its stake in Expand Energy Corporation (NASDAQ:EXE) by 6.0% during Q1, now holding 104,518 shares valued at approximately $11.6 million.
• In its latest earnings report, Expand Energy reported $2.02 earnings per share, surpassing analysts' expectations of $1.85, along with revenues of $2.20 billion against an estimate of $2.10 billion.
• Expand Energy's average analyst rating is "Buy" with a consensus target price of approximately $129.80, reflecting a range of upgrades and adjustments from several equity analysts recently.

Picton Mahoney Asset Management lifted its position in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,518 shares of the company's stock after purchasing an additional 5,961 shares during the quarter. Picton Mahoney Asset Management's holdings in Expand Energy were worth $11,635,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EXE. First Horizon Advisors Inc. purchased a new stake in Expand Energy in the first quarter worth about $28,000. Princeton Global Asset Management LLC bought a new stake in shares of Expand Energy during the first quarter valued at approximately $31,000. BankPlus Trust Department bought a new stake in Expand Energy in the 1st quarter worth approximately $32,000. Peoples Bank KS bought a new stake in Expand Energy in the 1st quarter worth approximately $33,000. Finally, Key Financial Inc purchased a new position in shares of Expand Energy during the 1st quarter worth $41,000. Institutional investors own 97.93% of the company's stock.

Analysts Set New Price Targets

EXE has been the topic of a number of research analyst reports. Jefferies Financial Group set a $135.00 target price on Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. UBS Group upped their target price on shares of Expand Energy from $144.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Mizuho upped their target price on shares of Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group lowered their price target on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Finally, Wolfe Research decreased their target price on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. One research 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 MarketBeat, Expand Energy presently has an average rating of "Buy" and a consensus price target of $129.50.

Expand Energy Price Performance

EXE traded down $2.79 on Friday, reaching $101.99. 1,360,091 shares of the company's stock were exchanged, compared to its average volume of 3,793,148. The stock has a market cap of $24.27 billion, a PE ratio of 261.77 and a beta of 0.48. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The stock's fifty day moving average price is $111.72 and its 200-day moving average price is $107.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.59.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. Sell-side analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The business 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. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's payout ratio is 589.74%.

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.