Expand Energy (NASDAQ:EXE) Stock Price Expected to Rise, Scotiabank Analyst Says

Expand Energy (NASDAQ:EXE) had its price target upped by stock analysts at Scotiabank from $140.00 to $150.00 in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 47.42% from the company’s current price.

A number of other research firms also recently commented on EXE. UBS Group decreased their price objective on shares of Expand Energy from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Bernstein Bank decreased their price objective on shares of Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. Siebert Williams Shank decreased their price objective on shares of Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Wells Fargo & Company decreased their price objective on shares of Expand Energy from $121.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Finally, Wolfe Research decreased their price objective on shares of Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Expand Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.81.

Expand Energy Stock Down 4.0%

Shares of NASDAQ:EXE opened at $101.75 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $99.38 and a 200 day simple moving average of $106.14. The firm has a market cap of $24.23 billion, a PE ratio of 260.90 and a beta of 0.47. Expand Energy has a 12-month low of $82.69 and a 12-month high of $123.35.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.09 billion. Expand Energy had a return on equity of 5.76% and a net margin of 2.41%. On average, equities research analysts anticipate that Expand Energy will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Expand Energy

In other news, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the acquisition, the chief executive officer owned 166,715 shares in the company, valued at $15,981,299.90. The trade was a 1.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $92.16 per share, with a total value of $184,320.00. Following the acquisition, the chief operating officer owned 61,676 shares of the company’s stock, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Expand Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Viking Fund Management LLC raised its stake in shares of Expand Energy by 200.0% during the third quarter. Viking Fund Management LLC now owns 30,000 shares of the company’s stock valued at $3,187,000 after purchasing an additional 20,000 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Expand Energy during the third quarter valued at about $1,039,000. Independence Bank of Kentucky bought a new stake in shares of Expand Energy during the third quarter valued at about $871,000. Czech National Bank raised its stake in shares of Expand Energy by 14.3% during the third quarter. Czech National Bank now owns 60,484 shares of the company’s stock valued at $6,426,000 after purchasing an additional 7,549 shares in the last quarter. Finally, Chesley Taft & Associates LLC bought a new stake in shares of Expand Energy during the third quarter valued at about $282,000. 97.93% of the stock is currently owned by institutional investors.

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.