NJ State Employees Deferred Compensation Plan Acquires New Holdings in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• The NJ State Employees Deferred Compensation Plan acquired a new position in Expand Energy Corporation by purchasing 3,034 shares, valued at approximately $338,000.
• Expand Energy recently reported earnings per share of $1.10, missing analysts' expectations, despite higher revenue of $3.69 billion compared to an estimate of $2.09 billion.
• The company announced a quarterly dividend of $0.575 per share, with a dividend yield of 2.3%, indicating a payout ratio of 589.74%.

NJ State Employees Deferred Compensation Plan purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,034 shares of the company's stock, valued at approximately $338,000.

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

Analysts Set New Price Targets

Several brokerages recently commented on EXE. Capital One Financial reduced their price objective on shares of Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Stephens cut their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Barclays boosted their price target on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler upped their price objective on Expand Energy from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Wolfe Research reduced their price target on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $128.92.

Expand Energy Stock Down 0.1%

EXE traded down $0.09 on Thursday, hitting $101.56. The company had a trading volume of 448,093 shares, compared to its average volume of 3,764,364. The stock has a fifty day simple moving average of $110.55 and a 200-day simple moving average of $107.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $24.19 billion, a P/E ratio of 260.87 and a beta of 0.46. Expand Energy Corporation has a 52-week low of $69.12 and a 52-week high of $123.35.

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

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued 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 presently 589.74%.

Expand Energy 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.