Jennison Associates LLC Purchases New Holdings in Expand Energy Corporation (NASDAQ:EXE)

Jennison Associates LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 518,272 shares of the company's stock, valued at approximately $57,694,000. Jennison Associates LLC owned approximately 0.22% of Expand Energy as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EXE. Forum Financial Management LP acquired a new position in shares of Expand Energy in the 1st quarter valued at $448,000. Easterly Investment Partners LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at $7,667,000. Victory Capital Management Inc. acquired a new position in shares of Expand Energy in the 1st quarter valued at $12,053,000. Bridgewater Advisors Inc. acquired a new position in Expand Energy during the 1st quarter worth about $559,000. Finally, Larson Financial Group LLC acquired a new position in Expand Energy during the 1st quarter worth about $107,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Price Performance

EXE traded up $0.49 during trading on Friday, reaching $108.64. 2,257,017 shares of the stock were exchanged, compared to its average volume of 3,365,852. The business's 50 day moving average price is $114.14 and its two-hundred day moving average price is $107.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of -20.27 and a beta of 0.48. Expand Energy Corporation has a 1 year low of $81.66 and a 1 year high of $123.35.

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

Expand Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were paid a $0.575 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 2.12%. Expand Energy's payout ratio is currently -42.91%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Benchmark increased their price target on Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, April 3rd. Barclays increased their price objective on Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, July 7th. TD Cowen upgraded Expand Energy from a "hold" rating to a "buy" rating and raised their price target for the stock from $108.00 to $116.00 in a research note on Tuesday, April 8th. UBS Group raised their price target on Expand Energy from $144.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company dropped their price target on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $129.80.

Expand Energy 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.