Allstate Corp Purchases New Shares in Expand Energy Corporation $EXE

Allstate Corp acquired a new stake in Expand Energy Corporation (NASDAQ:EXE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,450 shares of the company’s stock, valued at approximately $898,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its stake in shares of Expand Energy by 255.6% in the second quarter. Assetmark Inc. now owns 256 shares of the company’s stock valued at $30,000 after acquiring an additional 184 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Expand Energy by 125.9% in the 2nd quarter. JFS Wealth Advisors LLC now owns 305 shares of the company’s stock valued at $36,000 after purchasing an additional 170 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of Expand Energy by 374.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 332 shares of the company’s stock worth $39,000 after purchasing an additional 262 shares in the last quarter. CX Institutional bought a new position in shares of Expand Energy during the third quarter worth approximately $52,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Expand Energy in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Expand Energy Price Performance

Shares of EXE stock opened at $109.50 on Thursday. The business has a fifty day simple moving average of $111.74 and a 200 day simple moving average of $105.46. The company has a market cap of $26.08 billion, a P/E ratio of 31.11 and a beta of 0.46. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. Expand Energy Corporation has a twelve month low of $91.01 and a twelve month high of $126.62.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Expand Energy had a return on equity of 6.31% and a net margin of 7.99%. On average, sell-side analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 13th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, November 13th. Expand Energy’s dividend payout ratio is currently 65.34%.

Wall Street Analysts Forecast Growth

EXE has been the topic of a number of analyst reports. Sanford C. Bernstein reduced their price target on Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Expand Energy in a research report on Monday, December 29th. Morgan Stanley raised their price target on Expand Energy from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Mizuho boosted their price target on Expand Energy from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Wells Fargo & Company upgraded shares of Expand Energy to a “hold” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.33.

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.