Moran Wealth Management LLC Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Moran Wealth Management LLC acquired a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,328 shares of the company's stock, valued at approximately $704,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXE. GAMMA Investing LLC purchased a new stake in Expand Energy in the 1st quarter worth about $36,507,000. Parallel Advisors LLC purchased a new position in shares of Expand Energy during the first quarter worth approximately $286,000. Doliver Advisors LP purchased a new position in shares of Expand Energy during the first quarter worth approximately $446,000. Peoples Bank KS purchased a new position in shares of Expand Energy during the first quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Expand Energy during the first quarter worth approximately $466,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXE has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Expand Energy from $136.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Sanford C. Bernstein raised shares of Expand Energy to a "strong-buy" rating and set a $150.00 target price on the stock in a research report on Thursday, May 22nd. Benchmark raised their target price on shares of Expand Energy from $93.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, April 3rd. Jefferies Financial Group set a $135.00 price objective on shares of Expand Energy and gave the company a "buy" rating in a report on Saturday, June 14th. Finally, Truist Financial cut their price objective on shares of Expand Energy from $133.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Expand Energy has an average rating of "Buy" and an average target price of $127.55.

Expand Energy Stock Performance

Shares of EXE traded up $0.29 during trading hours on Friday, reaching $118.96. 5,158,265 shares of the company traded hands, compared to its average volume of 3,381,099. The stock has a market capitalization of $28.31 billion, a P/E ratio of -22.19 and a beta of 0.49. 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 $81.66 and a 12-month high of $123.35. The business has a fifty day moving average price of $113.26 and a 200-day moving average price of $106.49.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.17. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates 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 anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.93%. 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.