Goldman Sachs resumes coverage on Expand Energy with buy, cuts Occidental to sell By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Goldman Sachs Coverage on Expand Energy Corp: Goldman Sachs has reinstated a "Buy" rating for Expand Energy Corp (NASDAQ:EXE) with a price target of $121, emphasizing its operational efficiency and strategic positioning in key natural gas basins after its merger with Chesapeake Energy and Southwestern Energy.
Downgrades for Other Companies: The bank downgraded Magnolia Oil & Gas to "Neutral" with a price target of $26 and Occidental Petroleum to "Sell," citing concerns over capital returns and balance sheet issues, while noting potential long-term improvements for Occidental.
Analyst Views on EXE
Wall Street analysts forecast EXE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXE is 131.58 USD with a low forecast of 106.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 99.520
Low
106.00
Averages
131.58
High
150.00
Current: 99.520
Low
106.00
Averages
131.58
High
150.00
About EXE
Expand Energy Corporation is an independent natural gas producer in the United States. The Company is focused on developing a supply of natural gas, oil and natural gas liquids (LNG) to expand energy access for all. Its operations are located in Louisiana, in the Haynesville and Bossier Shales (Haynesville), in Pennsylvania in the Marcellus Shale (Northeast Appalachia) and in West Virginia and Ohio in the Marcellus and Utica Shales (Southwest Appalachia) and include interests in approximately 8,000 gross natural gas and oil wells. The Company's operations include drilling, completion, and production. It also operates drilling rigs and provides certain oilfield products and services, principally serving the Company’s E&P operations through vertical integration. Haynesville is rich in natural gas with proximity to LNG export infrastructure. The Company's operations in Ohio and West Virginia target the Marcellus and Utica shales and provide oil and natural gas liquids.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
