Tocqueville Asset Management L.P. Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Tocqueville Asset Management L.P. has made a significant investment in Expand Energy Corporation, acquiring 231,005 shares valued at approximately $25.7 million during the 1st quarter.
• Analysts have issued various price targets for Expand Energy, with an average target price of $128.96, reflecting a general sentiment of a "Buy" rating among several firms.
• Expand Energy announced a quarterly dividend of $0.575 per share, with a yield of 2.4%, and a dividend payout ratio currently standing at 589.74%.

Tocqueville Asset Management L.P. purchased a new position in 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 firm purchased 231,005 shares of the company's stock, valued at approximately $25,715,000. Tocqueville Asset Management L.P. owned 0.10% of Expand Energy at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EXE. Harbour Investments Inc. bought a new position in Expand Energy in the first quarter worth approximately $27,000. First Horizon Advisors Inc. bought a new position in Expand Energy in the first quarter worth approximately $28,000. Cheviot Value Management LLC bought a new stake in shares of Expand Energy during the 1st quarter valued at $29,000. Pinney & Scofield Inc. bought a new stake in shares of Expand Energy during the 1st quarter valued at $29,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Expand Energy during the 1st quarter valued at $31,000. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on EXE shares. KeyCorp set a $135.00 price objective on shares of Expand Energy and gave the company an "overweight" rating in a research report on Friday, June 13th. Siebert Williams Shank decreased their price objective on shares of Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. Capital One Financial decreased their price objective on shares of Expand Energy from $105.00 to $101.00 in a research report on Thursday, July 3rd. Bernstein Bank decreased their price objective on shares of Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. Finally, Tudor Pickering & Holt decreased their price objective on shares of Expand Energy from $119.00 to $118.00 in a research report on Tuesday, July 1st. One research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $128.96.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $95.13 on Friday. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35. The stock has a market capitalization of $22.66 billion, a P/E ratio of 243.93 and a beta of 0.46. The firm has a fifty day simple moving average of $107.78 and a two-hundred day simple moving average of $107.21. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

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

Expand Energy Announces Dividend

The firm also recently disclosed 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. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

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.

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