Allworth Financial LP Increases Stake in Expand Energy Corporation $EXE

Allworth Financial LP grew its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 163.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,474 shares of the company’s stock after buying an additional 914 shares during the period. Allworth Financial LP’s holdings in Expand Energy were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXE. Vanguard Group Inc. bought a new stake in Expand Energy in the 1st quarter valued at $2,973,033,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Expand Energy during the first quarter valued at about $1,310,932,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Expand Energy in the first quarter worth about $701,831,000. Wellington Management Group LLP bought a new stake in shares of Expand Energy in the first quarter worth about $624,083,000. Finally, Invesco Ltd. purchased a new stake in shares of Expand Energy in the first quarter worth about $433,431,000. Institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $117.16 on Wednesday. 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 Corporation has a 12 month low of $91.01 and a 12 month high of $123.35. The company has a market capitalization of $27.90 billion, a price-to-earnings ratio of 33.28 and a beta of 0.47. The firm’s 50-day moving average is $105.57 and its 200 day moving average is $106.66.

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

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be issued a dividend of $0.575 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.30 dividend on an annualized basis and a yield of 2.0%. Expand Energy’s payout ratio is presently 65.34%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EXE. Raymond James Financial restated a “strong-buy” rating and set a $150.00 price target (up previously from $146.00) on shares of Expand Energy in a report on Thursday, September 11th. UBS Group raised their target price on shares of Expand Energy from $131.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Jefferies Financial Group reduced their price target on shares of Expand Energy from $141.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, October 3rd. Mizuho set a $136.00 price objective on shares of Expand Energy in a research report on Monday, September 15th. Finally, Wells Fargo & Company raised shares of Expand Energy to a “hold” rating in a research note on Thursday, October 16th. Two investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.32.

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.