Equities
Stephens Adjusts Price Target on Expand Energy to $157 From $156, Keeps Overweight Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $125.54, according to analysts polled by FactSet.
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59 stories mentioning EXEUpdated 2d ago
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- StephensTarget revisedOverweightPrice target$157from $156
- StifelInitiatedBuyPrice target$135
- Goldman SachsTarget revisedPrice target$113from $99
- Morgan StanleyTarget revisedOverweightPrice target$129from $131
- BarclaysTarget revisedEqualweightPrice target$107from $110
- BenchmarkTarget revisedBuyPrice target$109from $124
What's the latest news on EXE?
Research
Stifel Initiates Expand Energy at Buy With $135 Price Target
Expand Energy (EXE) has an average rating of buy and mean price target of $125.50, according to analysts polled by FactSet.
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Wire
Expand Energy Positioned for Gulf Coast Demand Growth, Twin Eagle Value, RBC Says
Expand Energy (EXE) could benefit from rising Gulf Coast gas demand, value creation from the Twin Eagle deal, greater LNG exposure, low-cost drilling inventory and a flexible approach to buybacks and debt reduction, RBC Capital Markets said in a note Thursday.Expand Energy could see stronger visibility for Gulf Coast demand than in Appalachia, with the region expected to add about 20 Bcf/d of gas demand by around 2030, led by LNG projects and growing power needs tied to AI, the investment firm said.The Twin Eagle acquisition could strengthen Expand Energy's marketing business and access to customers, while increasing and accelerating the company's marketing and commercial expansion, RBC said.Expand Energy's Haynesville assets and roughly 2,000 identified drilling locations could support long-term production growth, while recent low-cost leasing has also extended its inventory in Haynesville and Appalachia, according to the research note.The investment firm said the company plans to use free cash flow more flexibly, including buying back shares when valuations are attractive, reducing debt and maintaining its base dividend.RBC kept its outperform rating and $131 price target.Price: $99.71, Change: $+0.39, Percent Change: +0.39%
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Equities
Goldman Sachs Adjusts Price Target on Expand Energy to $113 From $99
Expand Energy (EXE) has an average rating of buy and mean price target of $125.19, according to analysts polled by FactSet.
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Commodities
Higher Oil Prices Lift US E&Ps, Fuel M&A Discussions, RBC Says
US oil producers are using higher crude prices to strengthen shareholder returns and debt plans as merger interest grows, RBC Capital Markets said in a Friday note.Oil prices reached a three-week high of $87 per barrel after President Donald Trump announced a "crushing economic operation" against Iran, RBC said.Despite higher prices, public US producers have shown little interest in sharply increasing output because structural demand growth remains limited.Instead, stronger oil prices have prompted producers to focus on debt repayment and shareholder returns, while some companies are also considering opportunistic hedging strategies.Trump also signaled potential support for reviving the Keystone XL pipeline, which could transport 830,000 barrels per day of heavy crude from Canada and the Bakken to Nebraska pipeline facilities before reaching Gulf Coast refineries.RBC said uncertainty remains over how Keystone XL would compete with rising Venezuelan crude volumes at US refineries as US producers prepare to sign supply contracts with Venezuela's state-owned oil company.Over the week, oil-weighted exploration and production companies gained 10%, while gas-weighted exploration and production companies rose 2%; large-cap and small- to mid-cap producers each advanced 7%, RBC saidThe SPDR S&P Oil & Gas Exploration & Production ETF rose 5%, while WTI gained 6% and Henry Hub natural gas increased 1% over the week, according to RBC.Merger discussions remained a key investor theme, with Exxon Mobil (XOM), Chevron (CVX), APA (APA), ConocoPhillips (COP), Diamondback Energy (FANG), Devon Energy (DVN) and EOG Resources (EOG) cited as potential buyers or targets.Antero Resources (AR), EQT (EQT), Ovintiv (OVV), Matador Resources (MTDR), Permian Resources (PR) and Infinity Natural Resources (INR) were also among the names investors identified in merger discussions, RBC said.Generalist investor interest in energy increased as WTI approached $90/bbl, while investors also raised questions about budgets and rising oilfield-services costs at higher crude prices, RBC said.Near-term catalysts include Devon Energy's plans to sell assets, Expand Energy's (EXE) new chief executive, and Tamboran Resources' (TBN) first gas sales.Price: $166.00, Change: $-0.15, Percent Change: -0.09%
$APA$AR$COP$CVX$DVN$EOG$EQT$EXE$FANG$MTDR$OVV$TBN$XOM
Commodities
Haynesville Output Climbs as Private Drillers Drive Production Surge, UBS Says
Haynesville natural gas production is hitting record levels as private operators push output higher, intensifying a supply overhang that continues to pressure Henry Hub pricing, UBS strategists said in a note on Wednesday.UBS analysts, citing the Energy Information Administration's August Short-Term Energy Outlook, said Haynesville production averaged 16.1 billion cubic feet per day in Q2, a 3% increase over the quarter.Projections indicate that growth will persist, with volumes reaching 16.6 Bcf/d in Q3 and 17.1 Bcf/d by Q4. The EIA forecasts further expansion into 2027, estimating a 9% increase over the year to 17.8 Bcf/d.UBS analysts said that this sustained volume growth remains the primary driver behind the persistent gas supply surplus that has weighed on both front-month and 2027 Henry Hub price forecasts.However, despite the broader surge in supply, the landscape of drilling activity is shifting. UBS said that though publicly traded E&P companies such as Expand Energy (EXE) are projecting flat volumes for H2 2026, private operators are the primary engines of the current growth cycle.Haynesville's rig count rose to 56 last week, the highest level since May 2023.The surge in drilling comes even as Apex Natural Gas, the basin's most active operator, began paring back operations.UBS said that after peaking at 14 active rigs in June, Apex's activity dropped to 13 in July and further to 10 in early August. Meanwhile, Adamas has increased its presence, averaging six active rigs in Q3, up from four in H1 2026.Public operator Comstock Resources (CRK) is maintaining a nine-rig program and expects volume growth in the second half of 2026, largely fueled by development in the emerging Western Haynesville.However, the energy firm's management signaled that future activity remains sensitive to market conditions, noting that drilling programs could be dialed back if natural gas prices continue to weaken.UBS said that despite the upward trend in production, regional basis differentials have tightened significantly over the past two months.The prompt Columbia-Gulf Mainline basis differential narrowed from roughly -$0.40 per million British thermal units in July to -$0.32/MMBtu in August, while the Winter 2026/27 basis strengthened to about -$0.21/MMBtu.UBS analysts attribute this resilience in pricing to robust demand from the liquefied natural gas sector. LNG exports have averaged 17.6 Bcf/d over the past week.Though Freeport LNG is currently processing about 1.4 Bcf/d, below its typical 2 Bcf/d capacity, market participants expect maintenance at the facility to conclude by the end of the month.Price: $95.40, Change: $-0.64, Percent Change: -0.66%
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Commodities
US Rig Count Rises as Permian Activity Signals Further Production Growth, UBS Says
The US oil and gas rig count rose for a second consecutive week, led by increased drilling activity in the Permian Basin, UBS strategists said in a note on Wednesday, while government forecasts point to further growth in crude and gas production through 2027.UBS analysts said that active rig count in the Lower 48 rose by three to 619 on a four-week average basis. The total is now 13% above the level at the end of 2025, with oil-directed rigs up 24% over the same period while gas rigs have fallen 9%.The bank said that the Permian added one rig overall last week, with activity in the Delaware sub-basin increasing by two rigs and activity in the Midland declining by one rig.Outside the Permian, the Williston and Barnett each added one rig, while the Eagle Ford and Denver-Julesburg basins each lost one.On the gas side, the Haynesville added one rig, while Appalachia was unchanged.The latest rig data comes as the US Energy Information Administration's August Short-Term Energy Outlook points to improving fundamentals in the Permian, which is expected to remain a key driver of domestic production growth.Permian's active rig count increased by six rigs to 248 in Q2, marking the first quarter-over-quarter increase since Q2 2024, UBS said, citing EIA data.Wells drilled and completed both increased 5% from the previous quarter, while crude production rose 3% to 6.81 million barrels per day.The basin's oil output is projected to remain broadly flat in Q3 before rising to 6.88 million barrels per day in Q4, according to the EIA. Production is forecast to increase further in 2027, averaging 7.03 million b/d.Gas output in the Permian was unchanged from the previous quarter at 28.9 billion cubic feet per day, reflecting takeaway constraints that have contributed to significant curtailments.UBS said that new pipeline capacity is expected to ease those bottlenecks, with the EIA forecasting Permian gas production to average 31.55 Bcf/d in 2027, up 2.4 Bcf/d.Within UBS's coverage group and integrated oil companies, the number of active rigs rose by two last week to 279. Chevron (CVX) and Expand Energy (EXE) each added one rig.Exxon Mobil (XOM) remained the most active publicly traded operator, with 35 rigs, followed by Devon Energy with 33, ConocoPhillips (COP)with 30, and EOG Resources (EOG) and Occidental Petroleum (OXY) with 23 each.Price: $206.54, Change: $+2.58, Percent Change: +1.26%
$COP$CVX$EOG$EXE$OXY$XOM
Wire
Morgan Stanley Adjusts Expand Energy Price Target to $129 From $131, Maintains Overweight Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $125.69, according to analysts polled by FactSet.Price: $96.67, Change: $+1.22, Percent Change: +1.27%
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Equities
Empire Petroleum Reaches 21,006 Feet In Texas Well Re-Entry, Advances Western Haynesville Strategy
Empire Petroleum (EP) said Monday that it successfully re-entered and evaluated the Wakefield-Harrison GU B1 well in Texas to a depth of 21,006 feet.The well, originally drilled in 1959, was deepened, underreamed and cleaned out to expose previously untested formations, it said. Empire said it completed a modern open-hole logging program and recovered sidewall cores, recording hydrocarbon shows including gas and liquids.The company said the work cost about $4.4 million, compared with reported costs of $30 million to $45 million for new ultra-deep wells in the broader Western Haynesville. The well reached about 1,713 feet deeper than Comstock Resources' (CRK) McCullough GLR 3 and 2,398 feet deeper than Expand Energy's (EXE) Bobby Yancey 1 pilot well, based on true vertical depth.Empire said the data will support further development planning and reprocessing of its existing 3D seismic data.
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Equities
Barclays Adjusts Expand Energy Price Target to $107 From $110, Maintains Equalweight Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $125.69, according to analysts polled by FactSet.
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Equities
Benchmark Adjusts Price Target on Expand Energy to $109 From $124, Maintains Buy Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $125.62, according to analysts polled by FactSet.
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Equities
Jefferies Adjusts Price Target on Expand Energy to $143 From $141, Maintain Buy Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $126.19, according to analysts polled by FactSet.
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Oil & Energy
US Shale Producers Stick to Spending Discipline Despite Crude Swings, RBC Says
US oil and gas producers are maintaining capital discipline despite heightened crude price volatility and supply disruptions, with most companies continuing to anchor investment plans around an oil price of about $65 per barrel, RBC Capital Markets strategists said in a note on Thursday.RBC analysts said that the stance comes after oil prices briefly climbed above $90/bbl during the past week before retreating, with West Texas Intermediate trading in a broad range of about $78 to $92/bbl as geopolitical tensions rattled markets.A drone strike that temporarily knocked the Caspian Pipeline Consortium export system offline, removing about 1.8 million barrels per day of Black Sea crude exports, underscored the vulnerability of global energy infrastructure and supported prices.However, RBC said geopolitical risks continued to be offset by concerns over underlying supply-and-demand fundamentals.The research firm said that recent US Department of Energy inventory draws have pushed domestic crude stockpiles to their lowest levels in about eight years, providing near-term support for prices.Nevertheless, RBC said that inventory declines cannot continue indefinitely and are unlikely to justify a sustained departure from producers' current investment discipline.RBC said comments from companies across its exploration and production coverage indicate management teams remain focused on generating shareholder returns rather than materially increasing production in response to short-term price movements.The latest earnings season also highlighted optimism among natural gas producers, with executives broadly signaling plans to position for future demand growth while maintaining measured production increases.The research firm said the acquisition of Twin Eagle by Expand Energy (EXE) came as a surprise to investors but was broadly consistent with its strategy of expanding higher-margin opportunities rather than pursuing pipeline ownership.Energy equities underperformed over the past week as commodity prices retreated.Oil-weighted US E&P companies declined about 4% during the week, while gas-focused producers were broadly unchanged. Large-cap producers fell about 1%, while small- and mid-cap companies dropped roughly 5%.The SPDR S&P Oil & Gas Exploration & Production ETF was little changed over the week, while WTI crude fell about 9% and Henry Hub natural gas futures declined about 6%.Price: $93.63, Change: $+1.21, Percent Change: +1.31%
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Wire
Capital One Securities Adjusts Price Target on Expand Energy to $120 From $124, Maintains Overweight Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $126.23, according to analysts polled by FactSet.Price: $91.31, Change: $-1.15, Percent Change: -1.25%
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Equities
JPMorgan Trims Price Target on Expand Energy to $121 From $122, Maintains Overweight Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $126.23, according to analysts polled by FactSet.Price: $92.96, Change: $+0.50, Percent Change: +0.54%
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Equities
UBS Adjusts Expand Energy Price Target to $124 From $127, Maintains Buy Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $126, according to analysts polled by FactSet.
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Wire
Roth Capital Adjusts Price Target on Expand Energy to $93 From $92, Maintains Neutral Rating
Expand Energy (EXE) has an average rating of buy and mean price target of $126, according to analysts polled by FactSet.Price: $92.32, Change: $+3.80, Percent Change: +4.29%
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Commodities
Expand Energy Increases Q2 Output, Keeps 2026 Production Guidance Unchanged
Expand Energy (EXE) reported Tuesday Q2 earnings showing net production of 7.48 billion cubic feet equivalent per day, up from 7.20 Bcfe/d a year earlier.Natural gas production increased to 6.90 Bcf/d for the quarter ended June 30, up from 6.60 Bcf/d a year earlier, accounting for 92% of total output.Oil production declined to 14,000 barrels per day for the quarter, down from 18,000 b/d for the same quarter last year. Natural gas liquids production held steady at 83,000 b/d.Total production in the Haynesville rose to 3.19 Bcf/d, up from 2.98 Bcf/d in the year-ago quarter, while Northeast Appalachia produced 2.63 Bcf/d, compared with 2.66 Bcf/d a year earlier.Southwest Appalachia increased total production to 1.67 Bcfe/d from 1.56 Bcfe/d a year earlier.Expand Energy operated an average of 12 rigs, drilled 55 wells and turned 48 wells in line during the quarter.The company reaffirmed its 2026 production outlook of 7.4 Bcfe/d to 7.6 Bcfe/d.The company also reaffirmed plans to operate 11-12 rigs in 2026 and invest approximately $2.75 billion to $2.95 billion in capital spending to support development across its portfolio.Expand Energy announced the acquisition of Twin Eagle, which it said will create North America's largest integrated natural gas company and broaden access to demand markets across the continent.
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Equities
Expand Energy Q2 Adjusted Earnings Rise, Revenue Falls
Expand Energy (EXE) reported late Tuesday Q2 adjusted earnings of $1.33 per diluted share, up from $1.10 a year earlier.Analysts polled by FactSet expected $1.14.Revenue for the quarter ended June 30 was $2.96 billion, down from $3.69 billion a year ago.Analysts expected $3.05 billion.
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Commodities
US Land Drilling Activity Holds Firm Despite Minor Oil, Gas Rig Changes, RBC Says
US land drillers kept the active rig count unchanged at 572 over the week, with only minor shifts between oil and gas rigs, RBC Capital Markets said in a Sunday note.RBC said the Baker Hughes (BKR) US land rig count remained at 572. The US oil rig count fell by one to 436, while the gas rig count increased by one to 127, the note said.Oil rigs increased by eight over the month, while gas rigs added two. The Permian Basin lost one rig to 258, representing 59% of Lower 48 oil rigs and 45% of total US land rigs.RBC said Helmerich & Payne (HP) remained the largest Permian driller with 90 rigs, representing 33% of basin activity. Patterson-UTI Energy (PTEN) operated 33 rigs, accounting for 12%, while Nabors Industries (NBR) ran 29 rigs, or 11%.The note said Exxon Mobil (XOM) led Permian operators with 33 rigs, followed by Devon Energy (DVN) with 22 and Occidental Petroleum (OXY) with 20. Private operators accounted for 44% of active rigs, up from 43% a year earlier.RBC said Eagle Ford activity remained unchanged at 47 rigs. Among drilling contractors, Helmerich & Payne led with 17 rigs, representing 33% of the total, followed by Nabors Industries with 12 rigs, or 24%, and Patterson-UTI Energy with seven rigs, or 14%.The note said ConocoPhillips (COP) led operators in the Eagle Ford with seven rigs, followed by EOG Resources (EOG) with six and Crescent Energy (CRGY) with four. Private operators increased their share to 53% from 38% a year earlier.Haynesville added one rig over the week to 56. Among drilling contractors, Helmerich & Payne led with 11 rigs, representing 18% of the total, followed by Independence Contract Drilling with nine rigs, or 15%, and Nabors Industries with eight rigs, or 13%.Apex remained the largest operator in the Haynesville with 14 rigs, while Adamas operated seven and Expand Energy (EXE) ran five. Private operators accounted for 74% of active rigs, compared with 70% a year earlier.RBC said its oilfield services coverage group advanced 1.1% over the week, while West Texas Intermediate crude climbed 7.8% during the same period.The note said Element Technical Services posted the strongest weekly gain at 15.8%, followed by SLB (SLB) at 11.6% and NOV (NOV) at 6.4%.RBC said Halliburton (HAL) declined 5.3%, Atlas Energy Solutions (AESI) dropped 15.0%, and Liberty Energy (LBRT) fell 27.2%. Its oilfield services coverage group has gained 34.1% over the year, compared with an 8.9% increase in the S&P 500 Index.
$AESI$BKR$COP$CRGY$DVN$EOG$EXE$HAL$HP$LBRT$NBR$NOV$OXY$PTEN$SLB$XOM
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