Spirit of America Management Corp NY Acquires Shares of 9,050 Expand Energy Corporation (NASDAQ:EXE)

Spirit of America Management Corp NY bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,050 shares of the company's stock, valued at approximately $1,007,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EXE. Avior Wealth Management LLC purchased a new stake in Expand Energy in the 1st quarter worth $557,000. Cherry Tree Wealth Management LLC purchased a new position in shares of Expand Energy in the first quarter worth $94,000. Retirement Systems of Alabama purchased a new position in shares of Expand Energy in the first quarter worth $28,130,000. Blue Trust Inc. purchased a new position in Expand Energy during the first quarter valued at $201,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Expand Energy in the 1st quarter valued at $485,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho increased their price objective on shares of Expand Energy from $136.00 to $141.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Barclays raised Expand Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $115.00 to $122.00 in a research note on Tuesday, April 15th. KeyCorp set a $135.00 price target on Expand Energy and gave the company an "overweight" rating in a report on Friday, June 13th. JPMorgan Chase & Co. cut their price target on Expand Energy from $115.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Truist Financial cut their target price on shares of Expand Energy from $133.00 to $131.00 and set a "buy" rating for the company in a report on Monday, March 17th. One investment 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. Based on data from MarketBeat, Expand Energy has an average rating of "Buy" and a consensus price target of $127.55.

Expand Energy Trading Up 1.1%

NASDAQ EXE traded up $1.28 on Friday, hitting $122.05. 5,593,784 shares of the stock were exchanged, 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 stock has a fifty day moving average price of $111.99 and a two-hundred day moving average price of $105.90. The firm has a market capitalization of $29.05 billion, a P/E ratio of -22.77 and a beta of 0.49. Expand Energy Corporation has a 52-week low of $81.66 and a 52-week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

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

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.