Expand Energy (NASDAQ:EXE) Stock Gets Price Target Trim from Sanford C. Bernstein

Expand Energy (NASDAQ:EXE) had its price objective cut by Sanford C. Bernstein from $139.00 to $136.00 in a research report released on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on the company. Scotiabank initiated coverage on Expand Energy in a research note on Wednesday, October 14th. They issued an “outperform” rating and a $111.00 price objective on the stock. William Blair began coverage on Expand Energy in a research note on Thursday, October 29th. They set a “hold” rating for the company. Truist Financial boosted their target price on Expand Energy from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Jefferies Financial Group dropped their price target on Expand Energy from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. Finally, Johnson Rice downgraded Expand Energy from a “buy” rating to an “accumulate” rating and cut their price target for the company from $135.00 to $125.00 in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.08.

Expand Energy Stock Up 0.8%

Shares of EXE traded up $0.73 during midday trading on Thursday, hitting $88.53. The stock had a trading volume of 2,113,682 shares, compared to its average volume of 3,391,030. The company has a 50 day simple moving average of $89.93 and a two-hundred day simple moving average of $95.89. Expand Energy has a twelve month low of $83.25 and a twelve month high of $126.62. The firm has a market cap of $20.45 billion, a price-to-earnings ratio of 7.67 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.90 and a quick ratio of 0.90.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.17. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $2.85 billion. Expand Energy had a net margin of 19.78% and a return on equity of 10.69%. On average, analysts anticipate that Expand Energy will post 8.73 EPS for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be given a dividend of $0.5750 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.30 annualized dividend and a yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is presently 19.93%.

Hedge Funds Weigh In On Expand Energy

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Expand Energy in the 2nd quarter worth about $1,778,004,000. Oaktree Capital Management LP raised its position in shares of Expand Energy by 3.5% in the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after buying an additional 175,114 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock valued at $493,890,000 after buying an additional 2,188,422 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Expand Energy by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,466,772 shares of the company’s stock valued at $270,838,000 after buying an additional 166,407 shares during the period. Finally, First Trust Advisors LP grew its position in Expand Energy by 242.6% during the third quarter. First Trust Advisors LP now owns 2,842,907 shares of the company’s stock worth $239,060,000 after buying an additional 2,013,043 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

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.