Neo Ivy Capital Management Acquires Shares of 15,302 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Neo Ivy Capital Management has invested approximately $1.70 million in Expand Energy Corporation by acquiring 15,302 shares during the first quarter.
• Wall Street analysts have set a consensus rating of "Buy" for Expand Energy, with an average price target of $129.80 and several institutions have significantly increased their price targets.
• Expand Energy recently reported strong quarterly earnings, posting $2.02 earnings per share, beating analysts' expectations, along with a quarterly dividend of $0.575 per share.

Neo Ivy Capital Management acquired a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,302 shares of the company's stock, valued at approximately $1,703,000.

A number of other hedge funds have also recently bought and sold shares of EXE. First Horizon Advisors Inc. bought a new stake in shares of Expand Energy in the 1st quarter worth approximately $28,000. Princeton Global Asset Management LLC acquired a new stake in Expand Energy in the 1st quarter valued at approximately $31,000. BankPlus Trust Department acquired a new position in shares of Expand Energy during the 1st quarter valued at $32,000. Peoples Bank KS acquired a new position in shares of Expand Energy during the 1st quarter valued at $33,000. Finally, Key Financial Inc acquired a new position in shares of Expand Energy during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EXE shares. Mizuho increased their price objective on Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Jefferies Financial Group set a $135.00 price objective on Expand Energy and gave the stock a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company lowered their target price on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. UBS Group boosted their target price on Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, TD Cowen upgraded Expand Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from $108.00 to $116.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $129.80.

Expand Energy Price Performance

Shares of EXE stock traded up $1.37 during trading hours on Tuesday, hitting $99.50. The company had a trading volume of 898,710 shares, compared to its average volume of 3,758,156. Expand Energy Corporation has a 12 month low of $69.12 and a 12 month high of $123.35. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of -18.58 and a beta of 0.48. The firm's fifty day moving average is $112.43 and its 200 day moving average is $107.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. On average, sell-side analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

About Expand Energy

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.