Scotiabank Increases Expand Energy (NASDAQ:EXE) Price Target to $140.00

Key Points

• Scotiabank has raised its price target for Expand Energy (NASDAQ:EXE) from $135.00 to $140.00, suggesting a potential upside of 44.71% from the current price.
• Despite a mixed outlook from other analysts, Expand Energy has a consensus "Buy" rating, with 17 buy ratings and 3 strong buy ratings among analysts.
• Expand Energy's recent quarterly earnings report showed revenue of $3.69 billion, significantly exceeding consensus estimates, although the earnings per share of $1.10 fell short of projections.

Expand Energy (NASDAQ:EXE - Get Free Report) had its price target hoisted by equities research analysts at Scotiabank from $135.00 to $140.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 44.71% from the company's current price.

A number of other equities research analysts have also commented on EXE. Mizuho upped their price target on Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Siebert Williams Shank reduced their price target on Expand Energy from $142.00 to $128.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group reduced their price target on Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Stephens dropped their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price objective on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $129.12.

Expand Energy Price Performance

Shares of Expand Energy stock traded up $0.85 during trading on Wednesday, reaching $96.74. 256,123 shares of the company's stock were exchanged, compared to its average volume of 3,731,195. The company has a market cap of $23.04 billion, a P/E ratio of 247.87 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 debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.78. The firm's 50-day moving average price is $109.03 and its 200 day moving average price is $107.38.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. As a group, research analysts anticipate that Expand Energy will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Uncommon Cents Investing LLC increased its holdings in Expand Energy by 6.0% during the 2nd quarter. Uncommon Cents Investing LLC now owns 1,945 shares of the company's stock valued at $227,000 after purchasing an additional 110 shares during the period. Parkside Financial Bank & Trust boosted its position in Expand Energy by 16.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 778 shares of the company's stock valued at $91,000 after acquiring an additional 112 shares in the last quarter. Essex Savings Bank boosted its position in Expand Energy by 5.3% during the 2nd quarter. Essex Savings Bank now owns 2,420 shares of the company's stock valued at $283,000 after acquiring an additional 121 shares in the last quarter. Signaturefd LLC boosted its position in Expand Energy by 5.6% during the 2nd quarter. Signaturefd LLC now owns 2,530 shares of the company's stock valued at $296,000 after acquiring an additional 134 shares in the last quarter. Finally, US Bancorp DE boosted its position in Expand Energy by 1.0% during the 2nd quarter. US Bancorp DE now owns 16,866 shares of the company's stock valued at $1,972,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other 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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