Expand Energy (NASDAQ:EXE) Upgraded at Freedom Broker

Key Points

• Freedom Broker upgraded Expand Energy to “strong buy,” adding to a generally positive analyst outlook. The stock has a “Moderate Buy” consensus rating and an average price target of $126.89.
• Shares opened at $97.91, down 1.2%, with a market capitalization of $22.67 billion. Expand Energy recently reported quarterly EPS of $1.33, beating estimates of $1.13, although revenue of $2.96 billion fell short of expectations.
• Institutional investors own 97.93% of the company, with major additions from California State Teachers’ Retirement System, BlackRock and Capital Research Global Investors.

Expand Energy (NASDAQ:EXE - Get Free Report) was upgraded by investment analysts at Freedom Broker to a "strong-buy" rating in a research report issued on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Wolfe Research restated an "outperform" rating and set a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. UBS Group lowered their price objective on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Roth Capital reissued a "neutral" rating and issued a $93.00 price objective on shares of Expand Energy in a report on Wednesday, July 29th. Johnson Rice lowered shares of Expand Energy from a "buy" rating to an "accumulate" rating and cut their target price for the company from $135.00 to $125.00 in a research report on Monday, August 17th. Finally, Weiss Ratings cut shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.89.

Expand Energy Stock Down 1.2%

EXE stock opened at $97.91 on Thursday. The stock has a market capitalization of $22.67 billion, a P/E ratio of 8.46 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Expand Energy has a 1-year low of $84.99 and a 1-year high of $126.62. The business has a fifty day moving average price of $92.88 and a 200-day moving average price of $97.00.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. Equities analysts forecast that Expand Energy will post 8.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $88.90 per share, for a total transaction of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Expand Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXE. California State Teachers Retirement System boosted its position in shares of Expand Energy by 9,116.8% in the second quarter. California State Teachers Retirement System now owns 25,499,733 shares of the company's stock worth $2,325,321,000 after purchasing an additional 25,223,067 shares during the period. BlackRock Inc. purchased a new stake in shares of Expand Energy in the second quarter worth $1,778,004,000. Capital Research Global Investors increased its stake in shares of Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Expand Energy during the 2nd quarter valued at $267,109,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after purchasing an additional 2,414,311 shares during the period. Institutional investors own 97.93% of the company's stock.

Expand Energy Company 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.

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