Hartford Investment Management Co. Makes New $1.43 Million Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Hartford Investment Management Co. made a new investment in Expand Energy Corporation (NASDAQ:EXE), acquiring 12,833 shares valued at approximately $1.43 million in the first quarter.
• Expand Energy reported earnings of $1.10 per share for the last quarter, missing estimates, but exceeded revenue expectations with $3.69 billion in revenue.
• The company declared a quarterly dividend of $0.575, with a dividend yield of 2.3%, set to be paid on September 4th to stockholders of record.

Hartford Investment Management Co. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,833 shares of the company's stock, valued at approximately $1,429,000.

Several other institutional investors and hedge funds have also modified their holdings of EXE. Massachusetts Financial Services Co. MA acquired a new position in shares of Expand Energy in the 1st quarter valued at about $518,328,000. Bank of New York Mellon Corp acquired a new position in shares of Expand Energy in the 1st quarter valued at about $326,670,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Expand Energy in the 1st quarter valued at about $127,038,000. Stephens Investment Management Group LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at about $108,048,000. Finally, Ninepoint Partners LP acquired a new position in shares of Expand Energy in the 1st quarter valued at about $89,056,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Price Performance

NASDAQ:EXE opened at $101.97 on Monday. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The stock has a 50 day moving average of $111.44 and a two-hundred day moving average of $107.72. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a market cap of $24.28 billion, a P/E ratio of 261.47 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 (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. On average, analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

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 given a $0.575 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is 589.74%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EXE shares. Scotiabank upped their price target on Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Siebert Williams Shank reduced their price target on Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Wells Fargo & Company reduced their price target on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a report on Thursday, May 22nd. Finally, TD Cowen raised Expand Energy from a "hold" rating to a "buy" rating and upped their price target for the stock from $108.00 to $116.00 in a report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $129.50.

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.

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