US Bancorp DE Buys New Stake in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• US Bancorp DE has acquired a new stake in Expand Energy Corporation, purchasing 16,704 shares valued at approximately $1.86 million.
• Expand Energy reported earnings per share of $1.10 for the last quarter, missing analysts' estimates by 4 cents, while generating revenues of $3.69 billion.
• The company announced a quarterly dividend of $0.575, indicating a 2.3% dividend yield with a high payout ratio of 589.74%.

US Bancorp DE acquired a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,704 shares of the company's stock, valued at approximately $1,860,000.

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Expand Energy in the first quarter valued at about $518,328,000. Bank of New York Mellon Corp acquired a new position in Expand Energy in the 1st quarter valued at about $326,670,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Expand Energy in the 1st quarter valued at approximately $127,038,000. Stephens Investment Management Group LLC acquired a new stake in shares of Expand Energy during the 1st quarter worth approximately $108,048,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Expand Energy during the 1st quarter worth approximately $89,056,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Expand Energy Stock Down 0.9%

EXE stock traded down $0.87 during mid-day trading on Friday, reaching $99.14. The company had a trading volume of 2,532,642 shares, compared to its average volume of 3,711,253. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $23.61 billion, a price-to-earnings ratio of 25.89 and a beta of 0.46. The firm has a fifty day simple moving average of $109.90 and a 200 day simple moving average of $107.50. Expand Energy Corporation has a fifty-two week low of $69.12 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted 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 company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. Analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy's dividend payout ratio is presently 589.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens decreased their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Capital One Financial decreased their price target on Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. Piper Sandler increased their price target on Expand Energy from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Siebert Williams Shank reduced their price objective on shares of Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Finally, Jefferies Financial Group set a $135.00 target price on shares of Expand Energy and gave the stock a "buy" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a hold rating, seventeen have issued 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 a consensus rating of "Buy" and an average price target of $128.92.

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.