iA Global Asset Management Inc. Makes New $5.86 Million Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• iA Global Asset Management Inc. acquired a new position in Expand Energy Corporation, buying 52,650 shares valued at approximately $5.86 million.
• Expand Energy's recent quarterly earnings report showed an EPS of $1.10, which missed the consensus estimate by $0.04, despite revenues significantly exceeding expectations at $3.69 billion.
• The company declared a quarterly dividend of $0.575 per share, with a dividend yield of 2.3%, and a high dividend payout ratio of 589.74%.

iA Global Asset Management Inc. bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 52,650 shares of the company's stock, valued at approximately $5,861,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Expand Energy during the 1st quarter valued at $3,757,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Expand Energy in the first quarter worth $1,179,000. Wedbush Securities Inc. bought a new stake in shares of Expand Energy in the first quarter worth $210,000. Cambridge Investment Research Advisors Inc. bought a new position in Expand Energy in the first quarter valued at about $1,383,000. Finally, Bessemer Group Inc. bought a new position in Expand Energy in the first quarter valued at about $75,000. Institutional investors own 97.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Bernstein Bank cut their target price on shares of Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. Scotiabank increased their price target on shares of Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Capital One Financial cut their price objective on shares of Expand Energy from $105.00 to $101.00 in a research report on Thursday, July 3rd. Finally, Barclays upped their price objective on Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $128.92.

Expand Energy Trading Down 0.9%

EXE stock traded down $0.87 during mid-day trading on Friday, reaching $99.14. 2,532,642 shares of the stock traded hands, compared to its average volume of 3,711,253. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The stock has a market capitalization of $23.61 billion, a PE ratio of 254.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The business has a 50-day moving average price of $109.90 and a two-hundred day moving average price of $107.50.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued 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 business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. Equities research analysts expect that Expand Energy Corporation will post 1.33 EPS 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 issued 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 2.3%. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

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.