Gulf International Bank UK Ltd Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Gulf International Bank UK Ltd acquired a new stake in Expand Energy Corporation, purchasing 13,102 shares worth approximately $1,458,000 in the first quarter.
• Expand Energy reported quarterly earnings of $1.10 per share, falling short of analysts' expectations of $1.14, despite a revenue of $3.69 billion.
• The company announced a quarterly dividend of $0.575 per share, reflecting a dividend yield of 2.4% and a significant payout ratio of 589.74%.

Gulf International Bank UK Ltd acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,102 shares of the company's stock, valued at approximately $1,458,000.

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

Expand Energy Stock Up 0.1%

EXE opened at $95.13 on Friday. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35. The business has a 50-day moving average of $107.78 and a 200-day moving average of $107.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $22.66 billion, a PE ratio of 243.93 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results 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). Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. Equities research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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 paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXE. Bernstein Bank reduced their target price on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. KeyCorp set a $135.00 target price on Expand Energy and gave the company an "overweight" rating in a report on Friday, June 13th. Piper Sandler reduced their target price on Expand Energy from $140.00 to $136.00 and set an "overweight" rating for the company in a report on Thursday. Wolfe Research reduced their price objective on Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Finally, Capital One Financial lowered their target price on Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $128.96.

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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