R Squared Ltd Purchases Shares of 3,460 Expand Energy Corporation (NASDAQ:EXE)

Key Points

• R Squared Ltd acquired 3,460 shares of Expand Energy Corporation (NASDAQ:EXE) valued at approximately $385,000 during the first quarter of 2023.
• Analysts have a positive outlook on Expand Energy, with a majority giving it a buy rating and an average target price of $129.50.
• Expand Energy recently announced a quarterly dividend of $0.575 per share, resulting in an annualized yield of 2.3%.

R Squared Ltd acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,460 shares of the company's stock, valued at approximately $385,000.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Expand Energy in the 1st quarter valued at $518,328,000. Bank of New York Mellon Corp purchased a new position in Expand Energy during the 1st quarter worth $326,670,000. Vaughan Nelson Investment Management L.P. purchased a new position in Expand Energy during the 1st quarter worth $127,038,000. Stephens Investment Management Group LLC purchased a new position in Expand Energy during the 1st quarter worth $108,048,000. Finally, Ninepoint Partners LP purchased a new position in Expand Energy during the 1st quarter worth $89,056,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Down 0.7%

Shares of NASDAQ EXE traded down $0.74 during mid-day trading on Monday, hitting $101.23. The company had a trading volume of 3,675,475 shares, compared to its average volume of 3,793,365. The company has a market capitalization of $24.11 billion, a PE ratio of 259.57 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. Expand Energy Corporation has a 1-year low of $69.12 and a 1-year high of $123.35. The business's 50-day simple moving average is $111.44 and its 200 day simple moving average is $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $2.09 billion. On average, 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 declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.575 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is currently 589.74%.

Wall Street Analyst Weigh In

EXE has been the topic of several research analyst reports. Bernstein Bank dropped their target price on Expand Energy from $150.00 to $146.00 in a research note on Monday, July 7th. Tudor Pickering & Holt decreased their price objective on Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Jefferies Financial Group set a $135.00 price target on Expand Energy and gave the stock a "buy" rating in a report on Saturday, June 14th. Scotiabank upped their price target on Expand Energy from $120.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, Stephens cut their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $128.92.

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.