Sanford C. Bernstein Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQTGet Free Report) had its price target dropped by stock analysts at Sanford C. Bernstein from $73.00 to $69.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 21.63% from the company’s current price.

A number of other equities research analysts also recently weighed in on EQT. Citigroup reduced their target price on EQT from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Wells Fargo & Company raised their target price on EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Barclays raised their target price on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Zacks Research raised EQT from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of EQT in a report on Sunday, January 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Get Our Latest Analysis on EQT

EQT Trading Down 1.7%

Shares of EQT stock opened at $56.73 on Monday. The stock’s fifty day moving average price is $60.92 and its two-hundred day moving average price is $57.38. The company has a market cap of $35.45 billion, a PE ratio of 17.14, a P/E/G ratio of 1.09 and a beta of 0.70. EQT has a fifty-two week low of $47.14 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76.

EQT (NYSE:EQTGet Free Report) last issued its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. The firm 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities analysts predict that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity

In other news, CAO Todd James sold 32,514 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total value of $1,987,255.68. Following the completion of the transaction, the chief accounting officer directly owned 58,796 shares in the company, valued at approximately $3,593,611.52. This represents a 35.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lesley Evancho sold 20,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the transaction, the insider owned 184,607 shares of the company’s stock, valued at $11,203,798.83. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 61,158 shares of company stock worth $3,742,983. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. bought a new position in EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC bought a new position in EQT during the 4th quarter worth $31,000. Fortitude Family Office LLC raised its position in EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Elyxium Wealth LLC bought a new position in EQT during the 4th quarter worth $49,000. Finally, Anchor Investment Management LLC raised its position in EQT by 133.3% during the 2nd 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 during the last quarter. 90.81% of the stock is owned by institutional investors.

Key Stories Impacting EQT

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EQT Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for EQT (NYSE:EQT)

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