IFP Advisors Inc Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• IFP Advisors Inc has acquired a new stake in Expand Energy Corporation, purchasing 3,230 shares valued at approximately $360,000 during the first quarter.
• Expand Energy stock has been receiving favorable ratings, with multiple brokerages setting target prices above $120, contributing to an average rating of "Buy" across analysts.
• The company has also recently declared a quarterly dividend of $0.575 per share, indicating a commitment to returning value to shareholders despite a negative net margin.

IFP Advisors Inc bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,230 shares of the company's stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new position in Expand Energy during the first quarter worth about $28,000. Princeton Global Asset Management LLC purchased a new position in Expand Energy during the first quarter worth about $31,000. BankPlus Trust Department purchased a new position in Expand Energy during the first quarter worth about $32,000. Peoples Bank KS purchased a new position in Expand Energy during the first quarter worth about $33,000. Finally, Key Financial Inc purchased a new position in Expand Energy during the first quarter worth about $41,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Stock Up 1.3%

EXE traded up $1.30 during trading hours on Tuesday, hitting $99.43. 1,599,075 shares of the company's stock were exchanged, compared to its average volume of 3,763,143. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. Expand Energy Corporation has a 12-month low of $69.12 and a 12-month high of $123.35. The firm has a market cap of $23.66 billion, a P/E ratio of -18.55 and a beta of 0.48. The firm has a 50 day moving average of $112.43 and a 200 day moving average of $107.78.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.10 billion. Analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EXE. Stephens reduced their target price 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. 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. Barclays boosted their price target on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. UBS Group boosted their price target on shares of Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Scotiabank boosted their price target on shares of Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $129.80.

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.