7,632 Shares in Expand Energy Corporation (NASDAQ:EXE) Purchased by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC has acquired a new stake of 7,632 shares in Expand Energy Corporation (NASDAQ:EXE), valued at approximately $850,000.
• 77% of Expand Energy's shares are held by institutional investors, with several firms including Jennison Associates LLC and Victory Capital Management Inc. also making significant investments during the first quarter.
• Analysts have a consensus rating of "Buy" on Expand Energy, with an average target price of $129.80 following positive quarterly earnings that exceeded estimates.

Private Advisor Group LLC purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,632 shares of the company's stock, valued at approximately $850,000.

Several other hedge funds have also made changes to their positions in EXE. Massachusetts Financial Services Co. MA purchased a new stake in shares of Expand Energy during the first quarter worth approximately $518,328,000. Bank of New York Mellon Corp purchased a new stake in shares of Expand Energy during the first quarter worth approximately $326,670,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Expand Energy during the first quarter worth approximately $127,038,000. Stephens Investment Management Group LLC purchased a new stake in shares of Expand Energy during the first quarter worth approximately $108,048,000. Finally, Canoe Financial LP purchased a new stake in shares of Expand Energy during the first quarter worth approximately $79,015,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Stephens lowered their target price on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wolfe Research lowered their target price on shares of Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. The Goldman Sachs Group decreased their price target on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Finally, Roth Capital set a $125.00 price target on Expand Energy in a report on Wednesday. One 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. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $129.50.

Expand Energy Price Performance

Shares of NASDAQ:EXE traded down $2.02 during midday trading on Friday, hitting $102.76. 934,173 shares of the stock were exchanged, compared to its average volume of 3,790,331. The stock has a market cap of $24.45 billion, a P/E ratio of 263.63 and a beta of 0.48. The company has a current ratio of 0.78, a quick ratio of 0.59 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The company has a 50 day moving average price of $111.72 and a 200-day moving average price of $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 2.2%. The ex-dividend date is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

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.