Zurcher Kantonalbank Zurich Cantonalbank Takes $10.07 Million Position in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Expand Energy Corporation, purchasing 90,459 shares valued at approximately $10.07 million.
• The company reported a net margin of 2.41% for the quarter with earnings of $1.10 per share, missing analysts' estimates of $1.14.
• Expand Energy announced a quarterly dividend of $0.575 to be paid on September 4th, representing an annualized yield of 2.21%.

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 90,459 shares of the company's stock, valued at approximately $10,070,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC acquired a new position in Expand Energy during the first quarter worth $363,000. TD Asset Management Inc acquired a new position in Expand Energy during the first quarter worth $45,404,000. Applied Finance Capital Management LLC acquired a new position in Expand Energy during the first quarter worth $483,000. Mediolanum International Funds Ltd acquired a new position in Expand Energy during the first quarter worth $520,000. Finally, Pacer Advisors Inc. bought a new stake in Expand Energy during the first quarter worth $1,196,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. KeyCorp set a $135.00 price target on shares of Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Piper Sandler upped their price target on shares of Expand Energy from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. TD Cowen raised shares of Expand Energy from a "hold" rating to a "buy" rating and upped their price target for the stock from $108.00 to $116.00 in a research report on Tuesday, April 8th. Finally, Bernstein Bank dropped their price target on shares of Expand Energy from $150.00 to $146.00 in a research report on Monday, July 7th. One research 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. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $129.50.

Expand Energy Price Performance

Expand Energy stock traded down $2.81 during trading hours on Friday, reaching $101.97. 2,661,643 shares of the stock were exchanged, compared to its average volume of 3,660,283. The company has a market cap of $24.28 billion, a P/E ratio of 261.47 and a beta of 0.47. The company has a current ratio of 0.78, a quick ratio of 0.59 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The stock has a 50 day moving average of $111.72 and a two-hundred day moving average of $107.72.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data 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 firm 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%. Equities analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The company 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 dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, August 14th. Expand Energy's dividend payout ratio is presently 589.74%.

Expand Energy 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.