Expand Energy (NASDAQ:EXE) Price Target Cut to $136.00 by Analysts at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut its price target on Expand Energy from $139 to $136 but maintained an “outperform” rating; the new target implies 53.45% upside from the previous close.
• Analyst sentiment is broadly positive: the consensus rating is “Moderate Buy,” with a consensus price target of $123.47.
• Expand Energy beat quarterly estimates, reporting EPS of $1.46 versus $1.29 expected and revenue of $3.29 billion versus $2.85 billion forecast.

Expand Energy (NASDAQ:EXE - Get Free Report) had its price target lowered by stock analysts at Sanford C. Bernstein from $139.00 to $136.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Sanford C. Bernstein's price target would suggest a potential upside of 53.45% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Scotiabank started coverage on shares of Expand Energy in a research note on Wednesday, October 14th. They issued an "outperform" rating and a $111.00 target price on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Expand Energy in a research note on Tuesday. Mizuho decreased their price objective on shares of Expand Energy from $145.00 to $138.00 and set an "outperform" rating for the company in a report on Tuesday, October 6th. Truist Financial raised their target price on Expand Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Finally, Stifel Nicolaus began coverage on Expand Energy in a report on Wednesday, September 9th. They issued a "buy" rating and a $135.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.47.

Expand Energy Stock Performance

NASDAQ EXE opened at $88.63 on Thursday. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 7.68 and a beta of 0.40. Expand Energy has a 12-month low of $83.25 and a 12-month high of $126.62. The company has a 50-day simple moving average of $90.37 and a two-hundred day simple moving average of $96.12. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.17. Expand Energy had a return on equity of 10.69% and a net margin of 19.78%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $2.85 billion. On average, equities analysts forecast that Expand Energy will post 8.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Expand Energy in the second quarter worth about $1,778,004,000. Bank of New York Mellon Corp bought a new stake in Expand Energy in the 2nd quarter worth approximately $267,109,000. Bank of America Corp DE bought a new stake in Expand Energy in the 2nd quarter worth approximately $150,896,000. Man Group plc purchased a new stake in shares of Expand Energy during the 2nd quarter worth approximately $148,227,000. Finally, Canoe Financial LP raised its holdings in shares of Expand Energy by 585.9% during the 3rd quarter. Canoe Financial LP now owns 1,748,406 shares of the company's stock worth $149,348,000 after acquiring an additional 1,493,514 shares in the last quarter. Institutional investors own 97.93% of the company's stock.

Expand Energy Company Profile

Expand Energy Corporation is an independent natural gas exploration and production company focused on developing U.S. shale resources. Its activities include acquiring, exploring and operating oil and natural gas properties, with natural gas as its primary product. The company's operations are concentrated in the Haynesville region of Louisiana and the Appalachia region, which includes the Marcellus and Utica formations. Its production supports the domestic natural gas market and related energy infrastructure.

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