Mackenzie Financial Corp Boosts Holdings in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Mackenzie Financial Corp increased its stake in Expand Energy Corporation by 38.5%, owning 382,540 shares valued at approximately $42.58 million as of the latest SEC filing.
• Despite a revenue of $3.69 billion for the quarter, Expand Energy reported an EPS of $1.10, missing estimates of $1.14, and has a current consensus rating of "Buy" from analysts.
• Expand Energy's stock has a market cap of $23.65 billion and a 12-month price range between $69.12 and $123.35.

Mackenzie Financial Corp grew its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,540 shares of the company's stock after buying an additional 106,245 shares during the quarter. Mackenzie Financial Corp owned 0.16% of Expand Energy worth $42,584,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EXE. Massachusetts Financial Services Co. MA acquired a new position in Expand Energy in the first quarter worth $518,328,000. Bank of New York Mellon Corp acquired a new stake in Expand Energy in the first quarter worth approximately $326,670,000. Vaughan Nelson Investment Management L.P. bought a new stake in Expand Energy during the first quarter worth approximately $127,038,000. Stephens Investment Management Group LLC purchased a new position in Expand Energy in the 1st quarter worth about $108,048,000. Finally, Ninepoint Partners LP acquired a new stake in Expand Energy during the 1st quarter valued at $89,056,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on EXE shares. KeyCorp set a $135.00 target price on Expand Energy and gave the company an "overweight" rating in a research note on Friday, June 13th. Stephens cut their price target on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Piper Sandler lifted their target price on Expand Energy from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday. Barclays increased their target price on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group set a $135.00 price target on Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $129.50.

Expand Energy Trading Down 2.7%

Shares of NASDAQ:EXE traded down $2.81 during midday trading on Friday, reaching $101.97. The company's stock had a trading volume of 2,661,643 shares, compared to its average volume of 3,660,283. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 261.47 and a beta of 0.47. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.59 and a current ratio of 0.78. The firm has a 50 day moving average price of $111.72 and a two-hundred day moving average price of $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, analysts forecast that Expand Energy Corporation will post 1.33 earnings per share 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 given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio is currently 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.