Expand Energy (NASDAQ:EXE) Price Target Cut to $95.00 by Analysts at BMO Capital Markets

Expand Energy (NASDAQ:EXE) had its price target lowered by BMO Capital Markets from $100.00 to $95.00 in a report released on Wednesday morning.

EXE has been the topic of several other research reports. Wolfe Research reaffirmed an “outperform” rating and set a $114.00 price target on shares of Expand Energy in a research report on Wednesday, July 29th. Barclays cut their price objective on Expand Energy from $107.00 to $102.00 in a report on Thursday. Morgan Stanley decreased their target price on shares of Expand Energy from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. The Goldman Sachs Group restated a “buy” rating and set a $117.00 target price on shares of Expand Energy in a report on Tuesday, October 20th. Finally, Scotiabank assumed coverage on shares of Expand Energy in a report on Wednesday, October 14th. They set an “outperform” rating and a $111.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Expand Energy has an average rating of “Moderate Buy” and an average target price of $130.08.

Expand Energy Stock Down 0.9%

Shares of NASDAQ EXE traded down $0.83 during mid-day trading on Wednesday, hitting $87.80. The company had a trading volume of 1,799,259 shares, compared to its average volume of 3,535,590. The company has a market capitalization of $20.28 billion, a PE ratio of 7.61 and a beta of 0.40. The firm has a 50-day simple moving average of $90.37 and a two-hundred day simple moving average of $96.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Expand Energy has a one year low of $83.25 and a one year high of $126.62.

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

Expand Energy Dividend Announcement

The firm also recently declared 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. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 12th. Expand Energy’s payout ratio is 19.93%.

Institutional Trading of Expand Energy

Several institutional investors and hedge funds have recently bought and sold shares of EXE. BlackRock Inc. acquired a new stake in shares of Expand Energy in the second quarter valued at approximately $1,778,004,000. Bank of New York Mellon Corp bought a new position in shares of Expand Energy during the 2nd quarter worth approximately $267,109,000. First Trust Advisors LP increased its holdings in shares of Expand Energy by 242.6% during the 3rd quarter. First Trust Advisors LP now owns 2,842,907 shares of the company’s stock worth $239,060,000 after acquiring an additional 2,013,043 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Expand Energy during the 2nd quarter worth approximately $150,896,000. Finally, Man Group plc acquired a new position in shares of Expand Energy during the 2nd quarter worth approximately $148,227,000. 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.