EQT (NYSE:EQT) Price Target Raised to $58.00 at Capital One Financial

EQT (NYSE:EQT) had its price target boosted by Capital One Financial from $55.00 to $58.00 in a research report released on Tuesday,MarketScreener reports. Capital One Financial currently has an overweight rating on the oil and gas producer’s stock.

A number of other research firms have also recently commented on EQT. UBS Group reissued a “buy” rating on shares of EQT in a research report on Wednesday, January 21st. Piper Sandler lifted their price target on shares of EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 18th. Sanford C. Bernstein boosted their price objective on shares of EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Wells Fargo & Company upped their price objective on shares of EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, BMO Capital Markets dropped their target price on EQT from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.55.

EQT Price Performance

Shares of NYSE EQT opened at $58.35 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 0.42 and a beta of 0.74. The business has a 50-day moving average of $54.86 and a 200-day moving average of $54.69.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, beating the consensus estimate of $0.76 by $0.14. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.The company’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. On average, equities analysts anticipate that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT’s dividend payout ratio (DPR) is currently 19.94%.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 3,768 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $60.37, for a total value of $227,474.16. Following the completion of the sale, the executive vice president directly owned 52,806 shares in the company, valued at approximately $3,187,898.22. The trade was a 6.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in the business. Sound Shore Management Inc CT increased its stake in EQT by 31.8% during the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock valued at $83,105,000 after purchasing an additional 368,748 shares during the last quarter. Reaves W H & Co. Inc. boosted its holdings in shares of EQT by 12.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after buying an additional 132,741 shares during the period. Rhumbline Advisers boosted its holdings in shares of EQT by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock valued at $60,325,000 after buying an additional 49,714 shares during the period. SG Americas Securities LLC raised its stake in EQT by 1,286.2% during the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock worth $42,920,000 after acquiring an additional 682,844 shares during the period. Finally, Whittier Trust Co. raised its stake in EQT by 2.3% during the fourth quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock worth $31,361,000 after acquiring an additional 13,232 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

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.