QRG Capital Management Inc. Takes $1.34 Million Position in Expand Energy Corporation (NASDAQ:EXE)

QRG Capital Management Inc. acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,991 shares of the company's stock, valued at approximately $1,335,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC purchased a new stake in Expand Energy in the 1st quarter worth approximately $2,214,000. Janney Montgomery Scott LLC purchased a new stake in Expand Energy in the 1st quarter worth approximately $1,983,000. M.E. Allison & CO. Inc. purchased a new stake in Expand Energy in the 1st quarter worth approximately $207,000. Solstein Capital LLC purchased a new stake in Expand Energy in the 1st quarter worth approximately $135,000. Finally, Trust Point Inc. purchased a new stake in Expand Energy in the 1st quarter worth approximately $219,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Stock Up 1.1%

Shares of NASDAQ:EXE traded up $1.28 during midday trading on Friday, hitting $122.05. 5,593,784 shares of the company's stock traded hands, compared to its average volume of 3,376,499. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $29.05 billion, a PE ratio of -22.77 and a beta of 0.49. The firm's fifty day moving average price is $111.99 and its two-hundred day moving average price is $105.90. Expand Energy Corporation has a twelve month low of $81.66 and a twelve month high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. On average, equities research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 dividend on an annualized basis and a yield of 1.88%. Expand Energy's dividend payout ratio is currently -42.91%.

Analysts Set New Price Targets

EXE has been the subject of several recent analyst reports. TD Cowen raised shares of Expand Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $116.00 in a research note on Tuesday, April 8th. Mizuho boosted their price objective on shares of Expand Energy from $136.00 to $141.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Stephens lowered their price objective on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. KeyCorp set a $135.00 price objective on shares of Expand Energy and gave the company an "overweight" rating in a research note on Friday, June 13th. Finally, Benchmark boosted their price objective on shares of Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. One investment 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 stock. According to data from MarketBeat.com, Expand Energy presently has an average rating of "Buy" and a consensus price target of $127.55.

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.