Expand Energy Corporation

Company Overview: Expand Energy Corporation, formerly (Chesapeake 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 to expand energy access for all. Its large-scale assets are concentrated across more than 938,000 net acres in the Appalachia and Haynesville basins.

As per our previous US Inflation Report published on ‘CHK’ on 23^rd August 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 72.23 based on “decent fundamentals, upside valuation, technical analysis and associated risks” and the stock price has now moved by ~32.55% since then and attained both resistance 1 and resistance 2.

*Chesapeake Energy Corporation and Southwestern Energy Company have successfully completed their previously announced merger, resulting in the formation of a new entity, Expand Energy Corporation. The combined company, now rebranded as Expand Energy, will begin trading publicly on the NASDAQ under the ticker symbol “EXE” starting October 2, 2024.

Noted below are the details of support and resistance levels provided in our previous report:

EXE’s Daily Chart 

Considering the current trading levels, risks associated, resistance 1 and resistance 2 attainment, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “EXE” at the closing market price of USD 95.74 (as of November 11, 2024).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is November 11, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’