Expand Energy (NASDAQ:EXE) Downgraded by Johnson Rice to Accumulate

Expand Energy (NASDAQ:EXE) was downgraded by research analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a report released on Monday, Marketbeat Ratings reports. They presently have a $125.00 price objective on the stock. Johnson Rice’s price target indicates a potential upside of 31.88% from the company’s previous close.

Several other equities research analysts have also commented on EXE. Citigroup cut their price target on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Truist Financial lifted their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Roth Capital reissued a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a research note on Wednesday, July 29th. Finally, Benchmark reduced their price target on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.78.

Expand Energy Price Performance

Shares of EXE opened at $94.78 on Monday. The firm has a market cap of $21.94 billion, a P/E ratio of 8.18 and a beta of 0.34. Expand Energy has a 12 month low of $84.99 and a 12 month high of $126.62. The stock’s 50 day moving average is $90.24 and its two-hundred day moving average is $98.00. 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 announced 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 return on equity of 10.33% and a net margin of 20.46%.The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. Analysts predict that Expand Energy will post 8.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Expand Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Expand Energy during the 2nd quarter valued at about $1,778,004,000. Capital Research Global Investors lifted its stake in Expand Energy by 33.2% in the 4th quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Expand Energy in the 2nd quarter worth approximately $267,109,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Expand Energy by 192.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

About Expand Energy

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.