M&T Bank Corp Purchases New Holdings in Expand Energy Corporation (NASDAQ:EXE)

M&T Bank Corp purchased a new stake in Expand Energy Corporation (NASDAQ:EXE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,923 shares of the company’s stock, valued at approximately $771,000.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Expand Energy in the first quarter valued at $1,179,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Expand Energy in the first quarter valued at $1,383,000. Bessemer Group Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $75,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Expand Energy during the 1st quarter worth about $1,077,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Expand Energy during the 1st quarter worth about $1,538,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on EXE. Barclays lifted their price target on Expand Energy from $122.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. UBS Group lifted their target price on shares of Expand Energy from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Benchmark increased their target price on Expand Energy from $93.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, April 3rd. Piper Sandler boosted their price target on Expand Energy from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Finally, Stephens reduced their target price on shares of Expand Energy from $123.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $129.50.

Expand Energy Trading Up 3.8%

NASDAQ EXE opened at $109.58 on Tuesday. The company has a market cap of $26.08 billion, a price-to-earnings ratio of -20.44 and a beta of 0.48. Expand Energy Corporation has a twelve month low of $81.66 and a twelve month high of $123.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $114.27 and its 200 day moving average is $107.59.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. As a group, sell-side analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, May 15th. Expand Energy’s dividend payout ratio (DPR) is currently -42.91%.

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.