Expand Energy (EXE)
Produces natural gas, oil and NGLs across Haynesville and Appalachian shale basins.
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Produces and markets natural gas, oil and NGLs from the Haynesville/Bossier, Marcellus and Utica shales. Natural gas supplies most output, while results remain exposed to commodity prices and the gathering and pipeline capacity needed to reach Gulf Coast and other markets.
Produces and markets natural gas, oil and natural gas liquids from onshore U.S. shale assets. The Haynesville and Bossier portfolio spans Louisiana and Texas; Northeast Appalachia centers on Pennsylvania's Marcellus, while Southwest Appalachia covers Marcellus and Utica acreage in West Virginia and Ohio. Natural gas supplies most production.
Combines basin-scale drilling and completion programs with marketing and commercial operations designed to improve margins and connect production with Gulf Coast and other demand centers. The portfolio makes it the largest U.S. natural gas producer by net daily production.
Reports a single exploration and production segment, with marketing ancillary to upstream operations. Earnings depend chiefly on commodity prices and on gathering, processing and pipeline capacity secured through long-term transportation commitments.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | UBS | Reiterate | Rating: —Target: $124 | Target: $129 |
| Sep 9, 2026 | Stifel Nicolaus | Target | Target: — | Target: $135 |
| Sep 9, 2026 | Raymond James | Reiterate | Rating: —Target: — | Target: $147 |
| Aug 26, 2026 | Goldman Sachs | Reiterate | Rating: —Target: — | Target: $113 |
| Aug 19, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $131 | Target: $129 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.37B · Total debt $3.73B · Total assets $28.03B · Shareholders' equity $19.41B
- Revenue
- $2.96B
- Operating income
- $661.0M
- Net income
- $522.0M
HistoryDividendAnnual yield
| Institutions | 95.53% | 221.15M shares | |
|---|---|---|---|
| 898 holders · as of Jun 30, 2026 | |||
| Insiders | 0.29% | 678.7K shares | |
| 18 holders · as of Jun 15, 2026 | |||
| Other | 4.18% | 9.67M shares | |
| remainder | |||
231.50M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.42% | 19.50M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.75% | 15.62M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.75% | 15.62M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.11% | 11.83M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.91% | 6.73M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Michael Wichterich | director, officer: Interim President and CEO | +1,000 | $88.90 |
| Jun 4, 2026 | Marcel Teunissen | officer: EVP & CFO | +2,000 | $92.88 |
| Jun 4, 2026 | Michael Wichterich | director, officer: Interim President and CEO | +1,000 | $93.36 |
| May 7, 2026 | Marcel Teunissen | officer: EVP & CFO | +2,000 | $96.43 |
| Mar 6, 2026 | Michael Wichterich | director, officer: Interim President and CEO | +2,000 | $107.50 |
- EQT
Closest large-scale Appalachian gas and market-access peer
- Comstock Resources
Direct Haynesville/Bossier gas peer near Gulf Coast markets
- Antero Resources
Southwest Appalachia gas/NGL peer with marketing overlap
- Range Resources
Pure Appalachian Marcellus gas and NGL overlap
- CNX Resources
Appalachian Marcellus/Utica peer with regional integration
- Gulfport Energy
Smaller gas-weighted Utica/Marcellus and SCOOP peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Expand Energy | $88.05 | +1.18% | $20.15B | 7.5 | 11.2 | 1.5 | −19.8% |
| EQT | $51.91 | +2.10% | $31.80B | 11.2 | 15.8 | 3.4 | −29.2% |
| Comstock Resources | $13.64 | +2.40% | $3.91B | 7.7 | 36.7 | 2.1 | −24.9% |
| Antero Resources | $36.18 | +5.10% | $10.58B | 9.9 | 8.5 | 1.9 | +29.6% |
| Range Resources | $39.46 | +2.97% | $8.95B | 10.6 | 10.8 | 2.7 | +19.1% |
| CNX Resources | $33.55 | +2.26% | $4.85B | 5.4 | 10.0 | 2.0 | −35.7% |
| Gulfport Energy | $162.54 | +2.55% | $2.85B | 6.3 | 6.6 | 1.9 | +3.8% |
| Median | 8.8 | 10.4 | 2.1 | −10.6% |