Citigroup Lowers EQT (NYSE:EQT) Price Target to $62.00

EQT (NYSE:EQT) had its price target reduced by equities researchers at Citigroup from $63.00 to $62.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s target price indicates a potential upside of 15.13% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on EQT from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Jefferies Financial Group dropped their price objective on shares of EQT from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Royal Bank Of Canada boosted their target price on shares of EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 7th. UBS Group increased their price target on shares of EQT from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company cut their price objective on shares of EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $65.13.

EQT Price Performance

Shares of EQT opened at $53.85 on Friday. EQT has a fifty-two week low of $42.42 and a fifty-two week high of $62.23. The firm’s 50-day simple moving average is $56.60 and its two-hundred day simple moving average is $54.94. The stock has a market cap of $33.61 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Activity at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the transaction, the executive vice president directly owned 69,486 shares in the company, valued at $3,668,165.94. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On EQT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Westpac Banking Corp raised its holdings in EQT by 6.6% during the 3rd quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after buying an additional 165 shares during the period. Private Trust Co. NA increased its position in EQT by 38.1% during the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 283 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of EQT by 1.0% in the second quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock valued at $2,708,000 after acquiring an additional 463 shares during the period. Anchor Investment Management LLC lifted its holdings in shares of EQT by 133.3% in the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 500 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of EQT by 6.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer’s stock worth $529,000 after purchasing an additional 554 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.