NYL Investors LLC Makes New $1.90 Million Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• NYL Investors LLC acquired a new position in Expand Energy Corporation, buying 17,058 shares valued at approximately $1.9 million in the first quarter.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, representing a dividend yield of 2.34%.
• Multiple brokerages have raised their price targets for Expand Energy, with TD Cowen upgrading its rating from "hold" to "buy" and setting a new price objective of $116.00.

NYL Investors LLC purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,058 shares of the company's stock, valued at approximately $1,899,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. acquired a new stake in Expand Energy during the first quarter valued at $28,000. Princeton Global Asset Management LLC acquired a new stake in shares of Expand Energy in the first quarter worth about $31,000. BankPlus Trust Department acquired a new stake in shares of Expand Energy in the first quarter worth about $32,000. Peoples Bank KS acquired a new stake in shares of Expand Energy in the first quarter worth about $33,000. Finally, Key Financial Inc acquired a new stake in shares of Expand Energy in the first quarter worth about $41,000. Hedge funds and other institutional investors own 97.93% of the company's stock.

Expand Energy Price Performance

Shares of EXE traded down $0.49 on Thursday, hitting $103.72. The company's stock had a trading volume of 2,060,849 shares, compared to its average volume of 3,795,162. The company has a market capitalization of $24.68 billion, a PE ratio of 266.22 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35. The company has a 50 day moving average price of $111.91 and a 200 day moving average price of $107.70.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 6.04% and a net margin of 2.41%. On average, research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, August 14th. Expand Energy's payout ratio is currently -42.91%.

Analysts Set New Price Targets

Several research firms recently weighed in on EXE. 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. Wolfe Research cut their price objective on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Mizuho boosted their price objective on Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Piper Sandler boosted their price objective on Expand Energy from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Siebert Williams Shank cut their price objective on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. One research 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, Expand Energy has an average rating of "Buy" and a consensus price target of $129.50.

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.