Sierra Summit Advisors LLC Acquires Shares of 61,326 Expand Energy Corporation $EXE

Sierra Summit Advisors LLC bought a new stake in shares of Expand Energy Corporation (NASDAQ:EXE) in the 3rd quarter, HoldingsChannel reports. The fund bought 61,326 shares of the company’s stock, valued at approximately $6,515,000.

A number of other hedge funds also recently made changes to their positions in EXE. Phoenix Financial Ltd. bought a new position in Expand Energy during the third quarter valued at about $169,783,000. 59 North Capital Management LP bought a new stake in Expand Energy in the second quarter worth about $102,949,000. Pacer Advisors Inc. boosted its stake in Expand Energy by 4,719.7% in the third quarter. Pacer Advisors Inc. now owns 821,571 shares of the company’s stock valued at $87,284,000 after acquiring an additional 804,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Expand Energy by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,396,701 shares of the company’s stock valued at $631,090,000 after acquiring an additional 740,502 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Expand Energy by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,913,307 shares of the company’s stock valued at $2,965,510,000 after acquiring an additional 646,330 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Trading Up 1.5%

NASDAQ:EXE opened at $107.92 on Friday. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The stock’s fifty day moving average price is $106.50 and its two-hundred day moving average price is $106.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $25.94 billion, a P/E ratio of 14.31 and a beta of 0.46.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.11. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%. As a group, analysts expect that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, March 5th. Expand Energy’s dividend payout ratio is presently 30.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $141.00 price objective on shares of Expand Energy in a research note on Thursday, February 19th. Sanford C. Bernstein lowered their target price on Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Benchmark reaffirmed a “buy” rating on shares of Expand Energy in a research report on Wednesday, February 18th. TD Cowen raised Expand Energy to a “strong-buy” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company set a $123.00 price objective on Expand Energy in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Expand Energy currently has a consensus rating of “Buy” and a consensus target price of $129.92.

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.