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

Expand Energy logo with Energy background

Key Points

  • The Swiss National Bank has acquired a new position in Expand Energy Corporation, purchasing 586,656 shares valued at approximately $65.31 million, representing about 0.25% ownership.
  • The stock has received multiple upgrades from analysts, with price targets ranging from $118 to $139, and currently holds an average rating of "Buy" and an average price target of $128.92.
  • Expand Energy recently announced a quarterly dividend of $0.575 per share, set to be paid on September 4th, with a current annualized dividend yield of 2.3%.
  • Want stock alerts on Expand Energy? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Swiss National Bank bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 586,656 shares of the company's stock, valued at approximately $65,307,000. Swiss National Bank owned 0.25% of Expand Energy as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Harbour Investments Inc. bought a new stake in Expand Energy during the first quarter valued at about $27,000. First Horizon Advisors Inc. bought a new stake in Expand Energy during the first quarter valued at about $28,000. Pinney & Scofield Inc. purchased a new position in shares of Expand Energy during the first quarter valued at about $29,000. Cheviot Value Management LLC purchased a new position in shares of Expand Energy during the first quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Expand Energy during the first quarter valued at about $31,000. 97.93% of the stock is owned by institutional investors.

Expand Energy Stock Up 0.6%

Shares of EXE traded up $0.57 during trading hours on Wednesday, hitting $96.46. The company had a trading volume of 4,752,589 shares, compared to its average volume of 3,761,284. The company has a market capitalization of $22.97 billion, a PE ratio of 247.34 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The company's fifty day moving average price is $108.63 and its two-hundred day moving average price is $107.30.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, equities analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio is presently 589.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXE. Jefferies Financial Group set a $135.00 price objective on Expand Energy and gave the company a "buy" rating in a research report on Saturday, June 14th. Wolfe Research cut their price objective on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Siebert Williams Shank cut their price objective on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Sanford C. Bernstein upgraded Expand Energy to a "strong-buy" rating and set a $150.00 price objective for the company in a research report on Thursday, May 22nd. Finally, Tudor Pickering & Holt dropped their price target on Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $129.12.

Get Our Latest Analysis on EXE

Expand Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Expand Energy (NASDAQ:EXE)

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