Expand Energy (NASDAQ:EXE) Given New $109.00 Price Target at Benchmark

Expand Energy (NASDAQ:EXE) had its price objective reduced by analysts at Benchmark from $124.00 to $109.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 10.95% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Roth Capital reiterated a “neutral” rating and set a $93.00 price objective on shares of Expand Energy in a research report on Wednesday, July 29th. Citigroup reduced their target price on Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group lowered their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings downgraded Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley lowered their target price on Expand Energy from $139.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.12.

Expand Energy Price Performance

EXE stock opened at $98.24 on Wednesday. Expand Energy has a one year low of $84.99 and a one year high of $126.62. The firm has a 50-day moving average of $90.06 and a two-hundred day moving average of $98.32. The firm has a market capitalization of $22.74 billion, a PE ratio of 8.48 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Expand Energy (NASDAQ:EXE) last released its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, analysts forecast that Expand Energy will post 8.92 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were acquired 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 of the company’s stock, valued at $7,600,772.20. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Expand Energy

Several hedge funds have recently modified their holdings of the business. Atlantic Union Bankshares Corp lifted its position in shares of Expand Energy by 74.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Rakuten Securities Inc. lifted its position in Expand Energy by 350.9% in the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the period. Eastern Bank acquired a new stake in Expand Energy during the second quarter worth $27,000. SJS Investment Consulting Inc. boosted its stake in Expand Energy by 379.6% during the first quarter. SJS Investment Consulting Inc. now owns 259 shares of the company’s stock worth $28,000 after buying an additional 205 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Expand Energy in the 4th quarter valued at $30,000. 97.93% of the stock is owned by institutional investors.

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.