Expand Energy (NASDAQ:EXE) Upgraded by Freedom Broker to “Strong-Buy” Rating

Freedom Broker upgraded shares of Expand Energy (NASDAQ:EXE) to a strong-buy rating in a report released on Thursday,Zacks reports.

A number of other analysts also recently weighed in on the stock. Johnson Rice downgraded shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their price target for the company from $135.00 to $125.00 in a research report on Monday, August 17th. Benchmark cut their target price on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Morgan Stanley reduced their price target on shares of Expand Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Weiss Ratings cut shares of Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Finally, Roth Capital reiterated a “neutral” rating and set a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.89.

Expand Energy Trading Down 1.2%

NASDAQ EXE opened at $97.91 on Thursday. Expand Energy has a 12 month low of $84.99 and a 12 month high of $126.62. The stock has a 50-day simple moving average of $92.88 and a 200 day simple moving average of $97.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $22.67 billion, a PE ratio of 8.46 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last issued its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.20. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Research analysts forecast that Expand Energy will post 8.84 EPS for the current year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 13th. Expand Energy’s dividend payout ratio is 19.86%.

Insider Activity

In related news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Expand Energy

A number of large investors have recently added to or reduced their stakes in EXE. Atlantic Union Bankshares Corp lifted its holdings in shares of Expand Energy by 74.6% in the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in shares of 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 during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of Expand Energy during the fourth quarter worth about $30,000. Ascentis Independent Advisors bought a new position in shares of Expand Energy during the first quarter worth about $32,000. Finally, Eastern Bank bought a new position in shares of Expand Energy during the second quarter worth about $27,000. Institutional investors own 97.93% of the company’s stock.

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.