Massachusetts Financial Services Co. MA Invests $518.33 Million in Expand Energy Corporation (NASDAQ:EXE)

Massachusetts Financial Services Co. MA acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,656,199 shares of the company's stock, valued at approximately $518,328,000. Massachusetts Financial Services Co. MA owned about 2.00% of Expand Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. First Horizon Advisors Inc. purchased a new stake in Expand Energy during the first quarter valued at about $28,000. Princeton Global Asset Management LLC bought a new stake in Expand Energy in the first quarter valued at approximately $31,000. BankPlus Trust Department purchased a new stake in shares of Expand Energy during the first quarter valued at approximately $32,000. Peoples Bank KS purchased a new stake in shares of Expand Energy during the first quarter valued at approximately $33,000. Finally, Key Financial Inc bought a new position in shares of Expand Energy in the first quarter worth approximately $41,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXE shares. Truist Financial decreased their price objective on shares of Expand Energy from $133.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Benchmark raised their price objective on shares of Expand Energy from $93.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Scotiabank upped their target price on Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday. Piper Sandler increased their target price on Expand Energy from $136.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley raised their price objective on Expand Energy from $137.00 to $154.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. 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 MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $129.80.

Expand Energy Price Performance

Shares of Expand Energy stock traded down $2.07 during trading hours on Tuesday, reaching $107.51. The stock had a trading volume of 3,389,724 shares, compared to its average volume of 3,371,583. The stock's 50 day moving average is $114.27 and its 200 day moving average is $107.59. 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 twelve month low of $81.66 and a twelve month high of $123.35. The firm has a market capitalization of $25.59 billion, a PE ratio of -20.06 and a beta of 0.48.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The firm had revenue of $2.20 billion for 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%. Equities analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, May 15th. Expand Energy's dividend payout ratio (DPR) is presently -42.91%.

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.