67,369 Shares in Expand Energy Corporation (NASDAQ:EXE) Bought by L & S Advisors Inc

Key Points

• L & S Advisors Inc has acquired 67,369 shares of Expand Energy Corporation, valued at approximately $7.5 million, making it the firm's 25th largest holding.
• Expand Energy recently missed quarterly earnings expectations with $1.10 EPS, while revenue exceeded estimates at $3.69 billion.
• The company declared a quarterly dividend of $0.575 per share, resulting in an annualized dividend yield of 2.3%.

L & S Advisors Inc purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,369 shares of the company's stock, valued at approximately $7,500,000. Expand Energy makes up 0.9% of L & S Advisors Inc's holdings, making the stock its 25th biggest holding.

A number of other large investors have also added to or reduced their stakes in EXE. Harbour Investments Inc. bought a new stake in Expand Energy during the first quarter worth $27,000. First Horizon Advisors Inc. bought a new stake in Expand Energy during the first quarter worth $28,000. Cheviot Value Management LLC bought a new stake in Expand Energy during the first quarter worth $29,000. Princeton Global Asset Management LLC bought a new stake in Expand Energy during the first quarter worth $31,000. Finally, BankPlus Trust Department bought a new stake in Expand Energy during the first quarter worth $32,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXE shares. Piper Sandler increased their price target on Expand Energy from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Scotiabank increased their price target on Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. UBS Group increased their price target on Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Morgan Stanley increased their price target on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a research note on Monday. Finally, The Goldman Sachs Group dropped their price target on Expand Energy from $127.00 to $125.00 in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Expand Energy currently has an average rating of "Buy" and an average target price of $128.92.

Expand Energy Stock Performance

EXE stock traded down $1.18 during midday trading on Tuesday, reaching $100.05. 748,312 shares of the company's stock traded hands, compared to its average volume of 3,780,083. The company has a 50-day moving average price of $111.44 and a two-hundred day moving average price of $107.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35. The firm has a market capitalization of $23.83 billion, a PE ratio of 257.10 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its 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 net margin of 2.41% and a return on equity of 5.76%. As a group, equities analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is presently 589.74%.

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.