State of Michigan Retirement System Buys Shares of 72,200 Expand Energy Corporation (NASDAQ:EXE)

State of Michigan Retirement System bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 72,200 shares of the company's stock, valued at approximately $8,037,000.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in Expand Energy in the 1st quarter worth $326,670,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Expand Energy in the 1st quarter worth approximately $127,038,000. Canoe Financial LP bought a new stake in Expand Energy during the 1st quarter worth approximately $79,015,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Expand Energy during the first quarter valued at approximately $60,722,000. Finally, Principal Financial Group Inc. bought a new position in shares of Expand Energy in the first quarter worth approximately $46,811,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EXE has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of Expand Energy from $133.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company raised their price target on Expand Energy from $112.00 to $114.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Piper Sandler boosted their price objective on Expand Energy from $136.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Benchmark increased their target price on Expand Energy from $93.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, April 3rd. Finally, KeyCorp set a $135.00 price target on Expand Energy and gave the stock an "overweight" rating in a report on Friday, June 13th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $129.50.

Expand Energy Price Performance

Expand Energy stock opened at $105.57 on Friday. Expand Energy Corporation has a 52-week low of $81.66 and a 52-week high of $123.35. The company has a market cap of $25.12 billion, a price-to-earnings ratio of -19.70 and a beta of 0.48. The firm's fifty day moving average is $114.27 and its 200 day moving average is $107.51. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30.

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. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. Sell-side analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Thursday, May 15th. Expand Energy's payout ratio is -42.91%.

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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