Expand Energy (NASDAQ:EXE) Stock Price Target Cut by BMO Capital Markets

Key Points

• BMO Capital Markets cut its price target on Expand Energy from $100 to $95, implying 8.2% upside from the stock’s reported $87.80 price.
• Analyst sentiment remains moderately positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $123.64, despite several brokerages lowering their targets.
• 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 objective decreased by stock analysts at BMO Capital Markets from $100.00 to $95.00 in a note issued to investors on Wednesday. BMO Capital Markets's price objective would indicate a potential upside of 8.20% from the company's current price.

Several other brokerages have also issued reports on EXE. William Blair started coverage on Expand Energy in a research note on Thursday, October 29th. They issued a "hold" rating on the stock. Raymond James Financial decreased their price target on shares of Expand Energy from $147.00 to $141.00 and set a "strong-buy" rating for the company in a research note on Monday, October 5th. Sanford C. Bernstein cut their target price on Expand Energy from $139.00 to $136.00 and set an "outperform" rating for the company in a research note on Thursday. Benchmark cut their target price on Expand Energy from $124.00 to $109.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Finally, Morgan Stanley decreased their target price on shares of Expand Energy from $124.00 to $123.00 and set an "overweight" rating on the stock in a research note on Thursday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.64.

Expand Energy Price Performance

Shares of EXE traded down $0.83 during mid-day trading on Wednesday, reaching $87.80. The company had a trading volume of 1,799,259 shares, compared to its average volume of 3,535,590. 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 1-year low of $83.25 and a 1-year high of $126.62. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 7.61 and a beta of 0.40. The company's 50 day simple moving average is $90.37 and its 200 day simple moving average is $96.12.

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, topping 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 business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $2.85 billion. Analysts expect that Expand Energy will post 8.73 EPS for the current year.

Institutional Trading of Expand Energy

A number of hedge funds have recently made changes to their positions in the stock. Eastern Bank bought a new position in Expand Energy during the 2nd quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in Expand Energy in the second quarter worth $32,000. Harbor Investment Advisory LLC bought a new stake in Expand Energy in the second quarter worth $33,000. Amplify Investments LLC purchased a new stake in shares of Expand Energy in the second quarter worth $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Expand Energy in the third quarter worth $37,000. 97.93% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.