78,801 Shares in Expand Energy Corporation (NASDAQ:EXE) Bought by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC acquired 78,801 shares of Expand Energy Corporation (NASDAQ:EXE) for approximately $8.77 million in the first quarter of 2023.
• Expand Energy reported earnings per share (EPS) of $1.10 for the last quarter, missing expectations, while revenue was considerably higher than estimated at $3.69 billion.
• The company announced a quarterly dividend of $0.575 per share, equivalent to an annualized yield of 2.3%, with a notably high payout ratio of 589.74%.

Mutual of America Capital Management LLC acquired 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 13F filing with the Securities and Exchange Commission. The firm acquired 78,801 shares of the company's stock, valued at approximately $8,772,000.

A number of other hedge funds have also recently added to or reduced their stakes in EXE. First Horizon Advisors Inc. bought a new position in Expand Energy during the 1st quarter worth $28,000. Princeton Global Asset Management LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $31,000. BankPlus Trust Department acquired a new stake in shares of Expand Energy in the 1st quarter valued at $32,000. Peoples Bank KS acquired a new stake in shares of Expand Energy in the 1st quarter valued at $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at $56,000. Institutional investors own 97.93% of the company's stock.

Expand Energy Stock Down 0.9%

EXE traded down $0.87 during midday trading on Friday, reaching $99.14. 2,532,642 shares of the company were exchanged, compared to its average volume of 3,711,253. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day moving average price is $109.90 and its 200 day moving average price is $107.50. The company has a market cap of $23.61 billion, a price-to-earnings ratio of 254.21 and a beta of 0.46. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate 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 expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on EXE. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 target price on the stock in a report on Thursday, May 22nd. Morgan Stanley raised their price objective on Expand Energy from $134.00 to $139.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Piper Sandler raised their price objective on Expand Energy from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. KeyCorp set a $135.00 price objective on Expand Energy and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Jefferies Financial Group set a $135.00 price objective on Expand Energy and gave the company a "buy" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $128.92.

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.