BMO Capital Markets Issues Pessimistic Forecast for Expand Energy (NASDAQ:EXE) Stock Price

Expand Energy (NASDAQ:EXE) had its price target lowered by research analysts at BMO Capital Markets from $100.00 to $95.00 in a research report issued on Wednesday. BMO Capital Markets‘s price target indicates a potential upside of 8.20% from the stock’s previous close.

Other analysts have also issued research reports about the company. Truist Financial lifted their target price on Expand Energy from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Mizuho lowered their price target on Expand Energy from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Stifel Nicolaus assumed coverage on Expand Energy in a research report on Wednesday, September 9th. They set a “buy” rating and a $135.00 price objective on the stock. Freedom Broker upgraded Expand Energy to a “strong-buy” rating in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $117.00 target price on shares of Expand Energy in a research report on Tuesday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.64.

Expand Energy Stock Down 0.9%

Shares of NASDAQ EXE traded down $0.83 during midday trading on Wednesday, hitting $87.80. The stock had a trading volume of 1,799,259 shares, compared to its average volume of 3,535,590. The business’s 50 day moving average is $90.37 and its 200-day moving average is $96.12. Expand Energy has a 52 week low of $83.25 and a 52 week high of $126.62. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market cap of $20.28 billion, a P/E ratio of 7.61 and a beta of 0.40.

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

Hedge Funds Weigh In On Expand Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Core Capital Management & Research inc. purchased a new stake in Expand Energy during the second quarter valued at $5,406,000. NewEdge Advisors LLC boosted its position in Expand Energy by 336.0% in the second quarter. NewEdge Advisors LLC now owns 35,673 shares of the company’s stock worth $3,253,000 after purchasing an additional 27,492 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Expand Energy during the 3rd quarter valued at about $5,162,000. Nicholas Investment Partners LP bought a new stake in shares of Expand Energy during the 2nd quarter valued at about $3,739,000. Finally, Nykredit A S bought a new stake in shares of Expand Energy during the 2nd quarter valued at about $2,151,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Company Profile

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.