Public Sector Pension Investment Board Buys Shares of 56,211 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• The Public Sector Pension Investment Board purchased a significant stake of 56,211 shares in Expand Energy Corporation, valued at approximately $6.25 million, during the first quarter.
• Expand Energy's stock has a current market capitalization of $22.66 billion and reported earnings per share (EPS) of $1.10 for the last quarter, missing the consensus estimate by $0.04.
• The company announced a quarterly dividend of $0.575 per share, translating to an annualized yield of 2.4%, with a dividend payout ratio of 589.74%.

Public Sector Pension Investment Board bought 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,211 shares of the company's stock, valued at approximately $6,257,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. acquired a new stake in Expand Energy during the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. bought a new position in shares of Expand Energy during the 1st quarter worth approximately $28,000. Pinney & Scofield Inc. bought a new position in shares of Expand Energy during the 1st quarter worth approximately $29,000. Cheviot Value Management LLC bought a new position in shares of Expand Energy during the 1st quarter worth approximately $29,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of Expand Energy during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXE. Scotiabank restated an "outperform" rating on shares of Expand Energy in a report on Wednesday. Capital One Financial cut their price target on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Morgan Stanley increased their price target on Expand Energy from $134.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wells Fargo & Company cut their price target on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group cut their price target on Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Expand Energy currently has an average rating of "Buy" and a consensus target price of $128.96.

Expand Energy Trading Up 0.1%

NASDAQ EXE opened at $95.13 on Friday. 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 $22.66 billion, a P/E ratio of 243.93 and a beta of 0.46. The business has a fifty day simple moving average of $107.78 and a 200 day simple moving average of $107.21. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its 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). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.09 billion. On average, analysts predict that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

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 given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. 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.

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