Bank of America Boosts EQT (NYSE:EQT) Price Target to $80.00

EQT (NYSE:EQT) had its price target increased by research analysts at Bank of America from $63.00 to $80.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Bank of America‘s price objective would indicate a potential upside of 54.10% from the stock’s current price.

Several other research analysts have also commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price objective (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Mizuho raised shares of EQT to an “outperform” rating and set a $66.00 price objective for the company in a research note on Tuesday, July 8th. Scotiabank lifted their price objective on shares of EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 13th. UBS Group lifted their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Roth Capital lowered shares of EQT from a “strong-buy” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $57.00 in a research note on Monday, August 18th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.14.

EQT Trading Down 0.3%

EQT stock opened at $51.9160 on Friday. The firm has a fifty day moving average price of $54.91 and a 200 day moving average price of $53.13. EQT has a fifty-two week low of $31.45 and a fifty-two week high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $32.40 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.59.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the business posted ($0.08) earnings per share. Sell-side analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares of the company’s stock, valued at $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Institutional investors and hedge funds have recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT in the first quarter valued at about $35,000. Harbour Investments Inc. raised its holdings in shares of EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 226 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EQT in the second quarter valued at about $41,000. University of Texas Texas AM Investment Management Co. raised its holdings in EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 310 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.