KLP Kapitalforvaltning AS Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

KLP Kapitalforvaltning AS purchased 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 fund purchased 56,232 shares of the company's stock, valued at approximately $6,260,000.

Other institutional investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Expand Energy in the 1st quarter valued at $3,757,000. Guidance Capital Inc. acquired a new position in shares of Expand Energy during the 1st quarter worth $502,000. Choreo LLC acquired a new position in shares of Expand Energy during the 1st quarter worth $423,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Expand Energy during the 1st quarter worth $736,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Expand Energy during the 1st quarter worth $14,683,000. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Trading Down 1.1%

NASDAQ EXE traded down $1.09 on Monday, reaching $97.08. The stock had a trading volume of 708,735 shares, compared to its average volume of 3,758,898. The firm has a market capitalization of $23.10 billion, a price-to-earnings ratio of -18.15 and a beta of 0.48. The company has a quick ratio of 0.59, a current 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 stock has a fifty day moving average price of $112.74 and a two-hundred day moving average price of $107.81.

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. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. As a group, sell-side analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a $0.575 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.37%. Expand Energy's payout ratio is -42.91%.

Analysts Set New Price Targets

EXE has been the subject of several recent analyst reports. KeyCorp set a $135.00 price objective on Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 target price for the company in a report on Thursday, May 22nd. Barclays upped their target price on Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. UBS Group upped their target price on Expand Energy from $144.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Stephens lowered their target price on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $129.80.

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.