KeyCorp Cuts Expand Energy (NASDAQ:EXE) Price Target to $127.00

Key Points

• KeyCorp has reduced its price target for Expand Energy from $135.00 to $127.00, while maintaining an "overweight" rating on the stock, indicating a potential upside of 29% from the previous close.
• Expand Energy reported $1.10 earnings per share (EPS) for the last quarter, missing analysts' estimates of $1.14, while its revenue significantly exceeded expectations at $3.69 billion.
• Insider trades show company executives, including the CEO, have increased their holdings in Expand Energy, suggesting confidence in the company's future performance.

Expand Energy (NASDAQ:EXE - Free Report) had its price target reduced by KeyCorp from $135.00 to $127.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Tudor Pickering & Holt decreased their target price on shares of Expand Energy from $119.00 to $118.00 in a report on Tuesday, July 1st. Mizuho upped their target price on shares of Expand Energy from $141.00 to $142.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. The Goldman Sachs Group decreased their target price on shares of Expand Energy from $127.00 to $125.00 in a report on Thursday, July 17th. Wolfe Research decreased their target price on shares of Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Expand Energy in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $127.12.

Expand Energy Stock Performance

Shares of NASDAQ EXE traded down $1.15 during mid-day trading on Wednesday, hitting $95.51. The company had a trading volume of 2,375,614 shares, compared to its average volume of 2,974,081. The company has a market capitalization of $22.75 billion, a price-to-earnings ratio of 244.90 and a beta of 0.46. Expand Energy has a 1 year low of $69.12 and a 1 year high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock's 50-day moving average price is $101.00 and its 200-day moving average price is $106.32.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. On average, sell-side analysts forecast that Expand Energy will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Insider Buying and Selling

In other Expand Energy news, CEO Domenic J. Dell'osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction on Friday, August 15th. The shares were acquired at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the completion of the transaction, the chief executive officer directly owned 166,715 shares of the company's stock, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $92.16 per share, for a total transaction of $184,320.00. Following the completion of the transaction, the chief operating officer directly owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. The trade was a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Expand Energy in the first quarter valued at approximately $3,757,000. Wealth Enhancement Advisory Services LLC bought a new stake in Expand Energy in the first quarter valued at approximately $1,179,000. Wedbush Securities Inc. bought a new stake in Expand Energy in the first quarter valued at approximately $210,000. Cambridge Investment Research Advisors Inc. bought a new stake in Expand Energy in the first quarter valued at approximately $1,383,000. Finally, Bessemer Group Inc. purchased a new position in shares of Expand Energy during the first quarter valued at approximately $75,000. 97.93% of the stock is currently owned by institutional investors.

About Expand Energy

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.