Expand Energy (NASDAQ:EXE) Stock Price Target Cut by Barclays

Key Points

• Barclays cut its price target on Expand Energy from $107 to $102, while indicating potential upside of 16.17% from the stock’s current price.
• Analyst sentiment remains broadly positive: the consensus rating is “Moderate Buy,” with a $123.64 average price target; 3 analysts rate it Strong Buy, 18 Buy, and 5 Hold.
• Expand Energy beat quarterly estimates, reporting EPS of $1.46 versus $1.29 expected and revenue of $3.29 billion versus $2.85 billion expected. Shares fell 0.9% to $87.80 on Thursday.

Expand Energy (NASDAQ:EXE - Get Free Report) had its price target lowered by Barclays from $107.00 to $102.00 in a research note issued on Thursday. Barclays's price target points to a potential upside of 16.17% from the company's current price.

A number of other equities research analysts also recently weighed in on EXE. William Blair started coverage on Expand Energy in a report on Thursday, October 29th. They issued a "hold" rating for the company. Wolfe Research restated an "outperform" rating and set a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Johnson Rice downgraded shares of Expand Energy from a "buy" rating to an "accumulate" rating and decreased their price objective for the stock from $135.00 to $125.00 in a report on Monday, August 17th. Sanford C. Bernstein lowered their target price on shares of Expand Energy from $139.00 to $136.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, UBS Group lowered their target price on shares of Expand Energy from $120.00 to $117.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Expand Energy has a consensus rating of "Moderate Buy" and a consensus price target of $123.64.

Expand Energy Stock Down 0.9%

Shares of EXE stock traded down $0.83 on Thursday, hitting $87.80. The stock had a trading volume of 1,799,259 shares, compared to its average volume of 3,535,590. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 7.61 and a beta of 0.40. The stock's 50 day moving average is $90.37 and its 200-day moving average is $96.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 0.90. Expand Energy has a 52-week low of $83.25 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.17. Expand Energy had a return on equity of 10.69% and a net margin of 19.78%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $2.85 billion. As a group, research analysts expect that Expand Energy will post 8.73 earnings per share for the current year.

Institutional Trading of Expand Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EXE. Core Capital Management & Research inc. bought a new position in Expand Energy during the second quarter valued at about $5,406,000. NewEdge Advisors LLC grew its holdings in Expand Energy by 336.0% during the second quarter. NewEdge Advisors LLC now owns 35,673 shares of the company's stock worth $3,253,000 after acquiring an additional 27,492 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Expand Energy in the third quarter worth about $5,162,000. Nicholas Investment Partners LP bought a new stake in Expand Energy in the second quarter worth about $3,739,000. Finally, Nykredit A S bought a new stake in Expand Energy in the second quarter worth about $2,151,000. Institutional investors own 97.93% of the company's stock.

About Expand Energy

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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