Expand Energy (NASDAQ:EXE) Stock Gets Price Target Cut from Barclays

Expand Energy (NASDAQ:EXE) had its price target reduced by Barclays from $107.00 to $102.00 in a research note published on Thursday, MarketBeat.com reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently weighed in on EXE. Roth Capital reiterated a “neutral” rating and set a $93.00 price objective (up from $92.00) on shares of Expand Energy in a research report on Wednesday, July 29th. UBS Group lowered their target price on shares of Expand Energy from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Freedom Broker upgraded shares of Expand Energy to a “strong-buy” rating in a report on Thursday, September 3rd. Morgan Stanley cut their price target on shares of Expand Energy from $124.00 to $123.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Expand Energy in a report on Tuesday. Two 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.08.

Expand Energy Trading Up 0.8%

EXE stock traded up $0.73 during trading on Thursday, hitting $88.53. The company had a trading volume of 2,113,682 shares, compared to its average volume of 3,391,030. The business has a 50-day moving average of $89.93 and a 200-day moving average of $95.89. Expand Energy has a one year low of $83.25 and a one year high of $126.62. The stock has a market cap of $20.45 billion, a PE ratio of 7.67 and a beta of 0.40. 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 (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, October 27th. The company reported $1.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $2.85 billion. Research analysts predict that Expand Energy will post 8.73 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be given a $0.5750 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.30 annualized dividend and a yield of 2.6%. Expand Energy’s dividend payout ratio (DPR) is presently 19.93%.

Institutional Trading of Expand Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Expand Energy during the second quarter worth $1,778,004,000. Oaktree Capital Management LP grew its holdings in shares of Expand Energy by 3.5% during the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock valued at $574,970,000 after buying an additional 175,114 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Expand Energy by 94.7% during the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after acquiring an additional 2,188,422 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Expand Energy by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,466,772 shares of the company’s stock worth $270,838,000 after acquiring an additional 166,407 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Expand Energy by 242.6% during the third 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 in the last quarter. 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.