PNC Financial Services Group Inc. Acquires New Holdings in Expand Energy Corporation (NASDAQ:EXE)

PNC Financial Services Group Inc. acquired a new stake in Expand Energy Corporation (NASDAQ:EXE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,445 shares of the company’s stock, valued at approximately $1,274,000.

Several other hedge funds have also recently bought and sold shares of EXE. Massachusetts Financial Services Co. MA bought a new stake in Expand Energy in the 1st quarter valued at about $518,328,000. Bank of New York Mellon Corp bought a new stake in Expand Energy in the 1st quarter valued at about $326,670,000. Vaughan Nelson Investment Management L.P. acquired a new position in Expand Energy during the 1st quarter valued at about $127,038,000. Stephens Investment Management Group LLC acquired a new position in Expand Energy during the 1st quarter valued at about $108,048,000. Finally, Ninepoint Partners LP acquired a new position in Expand Energy during the 1st quarter valued at about $89,056,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho raised their target price on shares of Expand Energy from $141.00 to $142.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Morgan Stanley raised their target price on shares of Expand Energy from $134.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. UBS Group raised their target price on shares of Expand Energy from $144.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Scotiabank raised their target price on shares of Expand Energy from $120.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Finally, KeyCorp set a $135.00 target price on shares of Expand Energy and gave the company an “overweight” rating in a research note on Friday, June 13th. One research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $128.92.

Expand Energy Stock Down 0.9%

EXE stock opened at $99.14 on Monday. Expand Energy Corporation has a 52-week low of $69.12 and a 52-week high of $123.35. The company’s 50 day simple moving average is $109.90 and its 200-day simple moving average is $107.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $23.61 billion, a P/E ratio of 254.21 and a beta of 0.46.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities research analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.575 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.3%. Expand Energy’s payout ratio is currently 589.74%.

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.