Pacer Advisors Inc. Invests $1.20 Million in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Pacer Advisors Inc. acquired a new stake in Expand Energy Corporation during the first quarter, purchasing 10,748 shares valued at approximately $1.2 million.
• Expand Energy reported a quarterly earnings per share of $1.10, missing estimates by $0.04, with revenues significantly exceeding expectations at $3.69 billion.
• The company announced a quarterly dividend of $0.575 per share, with a payout ratio of -42.91%, reflecting its current financial strategy.

Pacer Advisors Inc. bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,748 shares of the company's stock, valued at approximately $1,196,000.

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

Expand Energy Stock Performance

NASDAQ:EXE traded down $2.81 on Friday, reaching $101.97. 2,661,643 shares of the company's stock were exchanged, compared to its average volume of 3,660,283. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.59. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 261.47 and a beta of 0.47. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35. The stock has a fifty day simple moving average of $111.72 and a 200-day simple moving average of $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The business 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, sell-side analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

Wall Street Analysts Forecast Growth

EXE has been the topic of a number of recent analyst reports. Siebert Williams Shank dropped their price target on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Wolfe Research decreased their price target on shares of Expand Energy from $150.00 to $148.00 in a research note on Wednesday, July 2nd. Bernstein Bank decreased their price target on shares of Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 price target for the company in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $129.50.

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.