Morgan Stanley Cuts Expand Energy (EXE) Price Target to $124

Morgan Stanley has adjusted its price target for Expand Energy Corporation, reflecting its updated outlook, a 32.41% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:20 PM EDT

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Morgan Stanley cut its price target on Expand Energy Corporation ($EXE) to $124 from $129 on October 15, 2026, and rates the stock "Overweight".

Since the rating, $EXE is up 2.9% to date (from the $90.80 close on Oct 15, 2026).

EXE Expand Energy Corporation

$93.41 -13.41% year to date

Daily close · Oct 16, 2026

Key Points

Morgan Stanley reiterated its Overweight rating on Expand Energy Corporation (EXE) and lowered the price target to $124.0 from $129.0 on October 15, 2026.
Morgan Stanley's $124 price target implies 32.41% upside from Expand Energy Corporation's ($EXE) current $93.64 share price.
The stock traded at $93.64 as of Friday, which is well above its 52-week low of $84.99 but below its high of $126.62.
The consensus among analysts on Expand Energy indicates a 'buy' recommendation, with a mean price target of $125.52 based on 27 opinions.

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Morgan Stanley has reiterated its Overweight rating on Expand Energy Corporation (EXE) and lowered the price target to $124.0 from $129.0 as of October 15, 2026. The stock closed at $93.64 on the NasdaqGS, up from its previous close of $87.49, indicating a solid foothold above its 52-week low of $84.99.

Analyst rating track record

Morgan Stanley vs. the S&P 500

YTD return +0.86% hypothetical

All-time return +0.86% S&P 500 +0.57%

vs. S&P 500 +0.29% ahead of the index

Hypothetical returns from Morgan Stanley's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Expand Energy

Blackrock Inc. grew its holdings by 861,019 shares, ending with about 19.5 million shares worth roughly $1.82 billion. State Street Corporation also increased its stake by 1,124,767 shares, bringing its total to about 15.6 million shares valued at around $1.46 billion. Vanguard Capital Management LLC saw a smaller increase of 73,070 shares, totaling about 15.6 million shares worth about $1.46 billion. Additionally, Vanguard Portfolio Management LLC added 476,996 shares, resulting in about 11.8 million shares valued at approximately $1.11 billion, while Geode Capital Management, LLC increased its stake by 110,592 shares, totaling about 6.7 million shares worth around $629.2 million.

Expand Energy Corporation Stock Up 3.1%

As of the latest report, Expand Energy's shares are trading at $93.64. This price is below its 200-day moving average of $99.83 but above the 50-day average of $93.52. The stock's P/E ratio stands at 7.56, indicating a relatively low valuation compared to some peers in the energy sector.

12-month forecast

$EXE price target

Expand Energy Corporation daily closes and this analyst's $124 target. Not advice.

Recent Earnings

Expand Energy's latest revenue was about $12.66 billion, showing a decrease of 10.6% year-over-year. The company reported an EPS of $11.60, with a net margin of 21.97%. The next earnings report is scheduled for October 27, 2026.

Dividend

The company offers an annual dividend of $2.30 per share, which translates to a yield of 2.63%. The payout ratio stands at 27.5%.

Insider Buying and Selling at Expand Energy Corporation

Several insiders have made notable stock purchases recently. Chief Executive Officer Michael A. Wichterich bought 1,000 shares at an average price of $88.90 on June 12, 2026, totaling $88,900. On June 4, he purchased another 1,000 shares at $93.36 for $93,360. Chief Financial Officer Marcel Teunissen acquired 2,000 shares at $92.88, totaling $185,760, also on June 4, and added 2,000 shares at $96.43 on May 7 for $192,860.

Analysts Set New Price Targets

On October 15, 2026, UBS maintained its Buy rating with a price target of $120.0, down from $122.0. Morgan Stanley reiterated its Overweight rating with a target of $124.0, down from $129.0. Mizuho maintained an Outperform rating, lowering its target to $138.0 from $145.0. Raymond James kept its Strong Buy rating and reduced its target to $141.0 from $147.0. Bernstein also maintained its Outperform rating while lowering its target to $127.0 from $160.0. Overall, the consensus rating for Expand Energy is a 'buy,' with a mean target price of $125.52 based on 27 analyst opinions.

About Expand Energy Corporation

Expand Energy Corporation operates as an independent natural gas production company based in Spring, Texas. It engages in the exploration and development of properties to produce oil and natural gas, particularly in areas like the Marcellus and Haynesville Shales. The firm's recent analyst ratings and insider purchases reflect ongoing confidence in its business model and future performance.

Bottom Line

Investors should keep an eye on the upcoming earnings report on October 27, 2026, for updates on revenue and profitability. Morgan Stanley's recent adjustments in price targets highlight evolving expectations in the energy sector. As always, remember that the latest analyst ratings and insider activities reflect past positions and may not indicate current market situations.