---
title: "Expand Energy Progresses on Margins, Buybacks as Shares Trade at Discount, RBC Says"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285107544.md"
description: "Expand Energy (EXE) is enhancing margins and may increase shareholder returns through stock buybacks, as its shares trade at a significant discount, according to RBC Capital Markets. The company has secured a new LNG offtake agreement, aiming for $0.20 per thousand cubic feet in margin expansion, potentially generating $500 million in free cash flow. Expand Energy is on track to meet its 2026 budget of $2.75-$2.95 billion and production guidance of 7.4-7.6 billion cubic feet per day. RBC maintains an outperform rating with a price target of $145."
datetime: "2026-05-04T18:29:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285107544.md)
  - [en](https://longbridge.com/en/news/285107544.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285107544.md)
---

# Expand Energy Progresses on Margins, Buybacks as Shares Trade at Discount, RBC Says

02:29 PM EDT, 05/04/2026 (MT Newswires) -- Expand Energy ( EXE ) is advancing margin-enhancing commercial initiatives and could see increased shareholder returns through stock buybacks, with its shares trading at a "meaningful discount to peers," RBC Capital Markets said in a report emailed Monday.

The firm highlighted a new 1.15 million tonnes per annum LNG offtake agreement tied to Delfin FLNG Vessel 1, which pulls forward prior timelines and supports the company's goal of $0.20 per thousand cubic feet equivalent in margin expansion, equivalent to roughly $500 million in free cash flow, according to the report.

Expand Energy ( EXE ) remains "on track" to meet its 2026 budget of $2.75 billion to $2.95 billion and production guidance of 7.4 billion to 7.6 billion cubic feet equivalent per day, while retaining flexibility to adjust activity levels in response to weak natural gas prices, the report said.

The firm cited encouraging early results from Western Haynesville wells and ongoing leadership transition progress, with a CEO expected in H2 of 2026, and said that after about $1.3 billion in Q2 debt repayment, capital returns are likely to increasingly favor buybacks over "variable dividends," according to the report.

RBC has an outperform rating on Expand Energy ( EXE ), with a price target of $145.

Price: 99.78, Change: -0.34, Percent Change: -0.34

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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