Simmons Bank Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

Simmons Bank acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,730 shares of the company's stock, valued at approximately $304,000.

Several other large investors have also made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in Expand Energy during the first quarter worth approximately $326,670,000. Vaughan Nelson Investment Management L.P. bought a new stake in Expand Energy during the first quarter worth approximately $127,038,000. Canoe Financial LP bought a new stake in Expand Energy during the first quarter worth approximately $79,015,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Expand Energy during the first quarter worth approximately $60,722,000. Finally, Principal Financial Group Inc. bought a new stake in Expand Energy during the first quarter worth approximately $46,811,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Price Performance

Shares of EXE stock traded down $0.64 during trading hours on Tuesday, hitting $108.26. 1,479,049 shares of the company's stock were exchanged, compared to its average volume of 3,361,541. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The firm has a market cap of $25.76 billion, a P/E ratio of -20.20 and a beta of 0.48. The firm has a 50 day moving average of $114.23 and a two-hundred day moving average of $107.35. Expand Energy Corporation has a fifty-two week low of $81.66 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Sell-side analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, May 15th. Expand Energy's dividend payout ratio is currently -42.91%.

Analysts Set New Price Targets

EXE has been the topic of several analyst reports. Jefferies Financial Group set a $135.00 price objective on Expand Energy and gave the stock a "buy" rating in a research note on Saturday, June 14th. Benchmark upped their target price on Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 target price on the stock in a research note on Thursday, May 22nd. UBS Group upped their target price on Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Stephens cut their target price on Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $129.25.

About Expand Energy

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.