First Trust Advisors LP Has $47.06 Million Stock Position in Expand Energy Corporation $EXE

First Trust Advisors LP lessened its holdings in Expand Energy Corporation (NASDAQ:EXE) by 63.9% in the second quarter, HoldingsChannel reports. The fund owned 402,432 shares of the company’s stock after selling 711,120 shares during the period. First Trust Advisors LP’s holdings in Expand Energy were worth $47,060,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EXE. Harbour Investments Inc. acquired a new stake in Expand Energy in the 1st quarter worth about $27,000. PNC Financial Services Group Inc. bought a new position in shares of Expand Energy during the first quarter worth approximately $1,274,000. Blair William & Co. IL acquired a new stake in shares of Expand Energy in the first quarter valued at approximately $385,000. Deutsche Bank AG bought a new stake in shares of Expand Energy in the first quarter valued at approximately $84,527,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Expand Energy in the first quarter valued at approximately $1,200,000. 97.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

EXE has been the subject of several analyst reports. UBS Group lifted their price objective on Expand Energy from $131.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Scotiabank restated an “outperform” rating on shares of Expand Energy in a research report on Thursday, October 9th. Piper Sandler boosted their price target on Expand Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Morgan Stanley upped their price objective on shares of Expand Energy from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Barclays decreased their target price on shares of Expand Energy from $139.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.32.

Expand Energy Trading Down 3.1%

Shares of Expand Energy stock opened at $119.07 on Tuesday. The firm’s 50 day moving average is $110.94 and its 200 day moving average is $107.32. The firm has a market capitalization of $28.36 billion, a PE ratio of 33.83 and a beta of 0.45. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%. Equities research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, November 13th. This represents a $2.30 annualized dividend and a yield of 1.9%. Expand Energy’s dividend payout ratio (DPR) is presently 65.34%.

Expand Energy Company 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.