Easterly Investment Partners LLC Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Easterly Investment Partners LLC bought a new stake in Expand Energy Corporation (NASDAQ:EXE) during the 1st quarter, Holdings Channel reports. The fund bought 68,871 shares of the company’s stock, valued at approximately $7,667,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in shares of Expand Energy during the first quarter worth about $12,053,000. Bridgewater Advisors Inc. bought a new position in Expand Energy in the first quarter valued at approximately $559,000. Larson Financial Group LLC acquired a new stake in shares of Expand Energy in the first quarter valued at approximately $107,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Expand Energy in the first quarter valued at approximately $518,328,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Expand Energy in the first quarter valued at approximately $384,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Stock Performance

Shares of EXE opened at $108.31 on Thursday. Expand Energy Corporation has a 1 year low of $81.66 and a 1 year high of $123.35. The stock’s fifty day moving average price is $114.23 and its two-hundred day moving average price is $107.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $25.78 billion, a PE ratio of -20.21 and a beta of 0.48.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. On average, equities research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, May 15th. Expand Energy’s payout ratio is currently -42.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on EXE. Barclays boosted their price target on Expand Energy from $122.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Scotiabank boosted their price target on Expand Energy from $120.00 to $135.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. KeyCorp set a $135.00 target price on Expand Energy and gave the stock an “overweight” rating in a report on Friday, June 13th. Wells Fargo & Company reduced their price target on Expand Energy from $121.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Stephens decreased their price target on shares of Expand Energy from $123.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Expand Energy currently has a consensus rating of “Buy” and an average target price of $129.80.

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.