Catherine A. Kehr, a director at Expand Energy Corp (NYSE:EXE), recently sold 43,623 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $99.58, resulting in a total transaction value of approximately $4.34 million. Following this sale, Kehr retains ownership of 5,201 shares in the company. The transaction was executed on November 22, 2024, with the filing submitted on November 25, 2024.
In other recent news, Expand Energy has seen a flurry of activity following its recent merger with Southwestern Energy (NYSE:SWN). This significant move has positioned Expand Energy as the leading producer of natural gas in the United States, according to RBC Capital Markets. The firm has raised its stock price target for Expand Energy to $116, reiterating an Outperform rating.
Expand Energy's third-quarter earnings report showed an adjusted cash flow of approximately $337 million, aligning with consensus estimates. Looking ahead, the company provided preliminary guidance for fiscal year 2025, projecting average production around 7.0 billion cubic feet equivalent per day and capital expenditures estimated at $2.7 billion. Mizuho (NYSE:MFG) Securities USA anticipates the company's free cash flow in 2025 to reach $1.6 billion.
Analyst firms including Citi, Mizuho Securities USA, and Stephens have maintained or upgraded their ratings on Expand Energy, with increased price targets based on the company's strategic positioning and operational planning. The company has also introduced a new cash return framework aiming to balance debt reduction and cash returns to shareholders while preserving the current base dividend yield of around 4.2%.
Following a recent deal, Expand Energy has increased its target for anticipated synergies by about 25% to $500 million. These are among the recent developments that investors should consider. Stephens and BofA Securities have provided their insights on Expand Energy, with Stephens raising the company's price target to $86, while BofA Securities initiated coverage with a Buy rating and a price target of $114.
InvestingPro Insights
The recent insider sale by Catherine A. Kehr comes at a time when Expand Energy Corp (NYSE:EXE) is experiencing notable market performance. According to InvestingPro data, EXE is currently trading near its 52-week high, with a strong return of 17.97% over the last month and an impressive 36.2% over the last three months. This upward momentum aligns with an InvestingPro Tip indicating that the stock has shown a strong return over the last three months.
However, investors should note that EXE is trading at a high earnings multiple, with a P/E ratio of 51.51. This valuation metric suggests that the market has high expectations for the company's future growth. Additionally, EXE operates with a moderate level of debt and has liquid assets exceeding short-term obligations, which may provide some financial flexibility.
It's worth mentioning that analysts have revised their earnings upwards for the upcoming period, which could be seen as a positive signal. However, they also anticipate a sales decline in the current year, highlighting potential challenges ahead.
For those interested in a deeper analysis, InvestingPro offers 14 additional tips for EXE, providing a more comprehensive view of the company's financial health and market position.
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