Jefferies Financial Group Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,565 shares of the company’s stock, valued at approximately $2,991,000.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Expand Energy during the second quarter valued at $1,778,004,000. Oaktree Capital Management LP raised its position in shares of Expand Energy by 3.5% in the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after acquiring an additional 175,114 shares during the period. Bank of New York Mellon Corp raised its position in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after acquiring an additional 2,188,422 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Expand Energy by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,466,772 shares of the company’s stock worth $270,838,000 after acquiring an additional 166,407 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Expand Energy by 9.9% during the 1st quarter. Bank of America Corp DE now owns 1,921,098 shares of the company’s stock worth $210,898,000 after acquiring an additional 173,503 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.
Expand Energy Trading Down 0.9%
Shares of Expand Energy stock opened at $87.80 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Expand Energy Corporation has a twelve month low of $83.25 and a twelve month high of $126.62. The firm has a market capitalization of $20.28 billion, a PE ratio of 7.61 and a beta of 0.40. The firm’s 50-day moving average price is $90.14 and its 200 day moving average price is $95.99.
Expand Energy (NASDAQ:EXE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.29 by $0.17. Expand Energy had a return on equity of 10.69% and a net margin of 19.78%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $2.85 billion. On average, sell-side analysts predict that Expand Energy Corporation will post 8.73 EPS for the current fiscal year.
Expand Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be paid a $0.5750 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy’s payout ratio is currently 19.93%.
Analysts Set New Price Targets
A number of research firms have recently commented on EXE. The Goldman Sachs Group restated a “buy” rating and set a $117.00 target price on shares of Expand Energy in a research report on Tuesday, October 20th. BMO Capital Markets reduced their price target on Expand Energy from $100.00 to $95.00 in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Expand Energy in a research report on Tuesday. UBS Group lowered their price target on Expand Energy from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Finally, Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and dropped their price objective for the company from $135.00 to $125.00 in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.08.
Get Our Latest Research Report on Expand Energy
Expand Energy Company Profile
Expand Energy Corporation is an independent natural gas exploration and production company focused on developing U.S. shale resources. Its activities include acquiring, exploring and operating oil and natural gas properties, with natural gas as its primary product. The company’s operations are concentrated in the Haynesville region of Louisiana and the Appalachia region, which includes the Marcellus and Utica formations. Its production supports the domestic natural gas market and related energy infrastructure.
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