Wolfe Research Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target decreased by Wolfe Research from $70.00 to $61.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s price target points to a potential upside of 14.37% from the stock’s current price.

A number of other research analysts have also commented on EQT. JPMorgan Chase & Co. raised their price target on EQT from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Wells Fargo & Company decreased their target price 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. BMO Capital Markets boosted their price target on shares of EQT from $60.00 to $65.00 in a research report on Tuesday, November 11th. Stephens upped their price target on shares of EQT from $60.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of EQT in a report on Monday, December 29th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $64.65.

EQT Price Performance

Shares of NYSE:EQT opened at $53.33 on Monday. The firm’s 50 day moving average is $56.55 and its two-hundred day moving average is $54.68. The firm has a market capitalization of $33.28 billion, a P/E ratio of 18.27, a PEG ratio of 0.30 and a beta of 0.68. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 52 week low of $43.57 and a 52 week high of $62.23.

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

Insider Transactions at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On EQT

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of EQT by 14.2% during the first quarter. Integrated Wealth Concepts LLC now owns 19,356 shares of the oil and gas producer’s stock valued at $1,034,000 after purchasing an additional 2,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in EQT by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,714 shares of the oil and gas producer’s stock worth $3,137,000 after buying an additional 3,324 shares during the period. NewEdge Advisors LLC raised its holdings in EQT by 26.9% during the 1st quarter. NewEdge Advisors LLC now owns 38,229 shares of the oil and gas producer’s stock worth $2,043,000 after buying an additional 8,108 shares during the period. Caxton Associates LLP purchased a new stake in EQT during the first quarter valued at about $256,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of EQT in the first quarter worth about $14,638,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.