Expand Energy (NASDAQ:EXE) Price Target Cut to $136.00 by Analysts at Sanford C. Bernstein

Expand Energy (NASDAQ:EXE) had its target price reduced by equities research analysts at Sanford C. Bernstein from $139.00 to $136.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein‘s price objective would suggest a potential upside of 53.45% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus started coverage on Expand Energy in a research note on Wednesday, September 9th. They set a “buy” rating and a $135.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $117.00 price objective on shares of Expand Energy in a research note on Tuesday, October 20th. Johnson Rice lowered Expand Energy from a “buy” rating to an “accumulate” rating and lowered their price objective for the company from $135.00 to $125.00 in a research note on Monday, August 17th. Truist Financial lifted 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. Finally, UBS Group cut their target price on Expand Energy from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.47.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $88.63 on Thursday. The firm has a fifty day simple moving average of $90.37 and a two-hundred day simple moving average of $96.12. Expand Energy has a 52 week low of $83.25 and a 52 week high of $126.62. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $20.47 billion, a P/E ratio of 7.68 and a beta of 0.40.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, October 27th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.17. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Expand Energy had a net margin of 19.78% and a return on equity of 10.69%. On average, analysts expect that Expand Energy will post 8.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Core Capital Management & Research inc. purchased a new stake in Expand Energy in the second quarter worth $5,406,000. NewEdge Advisors LLC boosted its stake in shares of Expand Energy by 336.0% during the second quarter. NewEdge Advisors LLC now owns 35,673 shares of the company’s stock valued at $3,253,000 after purchasing an additional 27,492 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Expand Energy during the third quarter valued at $5,162,000. Nykredit A S bought a new position in shares of Expand Energy in the second quarter worth about $2,151,000. Finally, Nicholas Investment Partners LP bought a new position in shares of Expand Energy in the second quarter worth about $3,739,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About Expand Energy

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.