Wells Fargo & Company Cuts Expand Energy (NASDAQ:EXE) Price Target to $120.00

Expand Energy (NASDAQ:EXE) had its target price reduced by Wells Fargo & Company from $121.00 to $120.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on EXE. Morgan Stanley increased their target price on Expand Energy from $137.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Jefferies Financial Group set a $135.00 price objective on shares of Expand Energy and gave the stock a “buy” rating in a research note on Saturday, June 14th. Sanford C. Bernstein upgraded shares of Expand Energy to a “strong-buy” rating and set a $150.00 target price on the stock in a research report on Thursday, May 22nd. Barclays increased their price target on shares of Expand Energy from $122.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Finally, Stephens reduced their price objective on Expand Energy from $123.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $129.80.

Expand Energy Stock Performance

EXE opened at $108.15 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of -20.18 and a beta of 0.48. The company has a fifty day moving average of $114.21 and a 200 day moving average of $107.74. Expand Energy has a fifty-two week low of $81.66 and a fifty-two week high of $123.35.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. As a group, sell-side analysts forecast that Expand Energy will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, May 15th. Expand Energy’s payout ratio is presently -42.91%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in Expand Energy in the 1st quarter worth about $36,507,000. Parallel Advisors LLC purchased a new stake in shares of Expand Energy in the first quarter valued at approximately $286,000. Doliver Advisors LP purchased a new stake in shares of Expand Energy in the first quarter valued at approximately $446,000. Peoples Bank KS bought a new position in Expand Energy in the first quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Expand Energy during the 1st quarter worth $466,000. Hedge funds and other institutional investors 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.