EQT (NYSE:EQT) Price Target Lowered to $58.00 at JPMorgan Chase & Co.

EQT (NYSE:EQTFree Report) had its price target decreased by JPMorgan Chase & Co. from $64.00 to $58.00 in a research note issued to investors on Friday,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also issued reports on EQT. Wolfe Research cut their target price on EQT from $70.00 to $61.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Wells Fargo & Company lowered their target price on EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Sanford C. Bernstein raised their price objective on shares of EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Siebert Williams Shank cut their target price on shares of EQT from $62.00 to $59.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. Finally, Citigroup decreased their price target on shares of EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.59.

View Our Latest Analysis on EQT

EQT Stock Performance

Shares of EQT stock opened at $55.56 on Friday. The firm has a market cap of $34.67 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.44 and a beta of 0.68. The company has a quick ratio of 0.58, a current 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. The business’s fifty day simple moving average is $55.32 and its 200-day simple moving average is $54.25.

EQT (NYSE:EQTGet Free Report) 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, beating the consensus estimate of $0.50 by $0.02. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the firm earned $0.12 EPS. EQT’s revenue was up 52.6% on a year-over-year basis. Equities analysts forecast that EQT will post 3.27 earnings per share for the current year.

Insider Activity

In related news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the transaction, the executive vice president owned 69,486 shares in the company, valued at approximately $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sound Shore Management Inc CT raised its position in shares of EQT by 31.8% during the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after acquiring an additional 368,748 shares in the last quarter. Sound Shore Management Inc CT purchased a new position in EQT in the second quarter valued at approximately $67,539,000. Rhumbline Advisers raised its holdings in EQT by 4.7% during the third quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock worth $60,325,000 after purchasing an additional 49,714 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in shares of EQT by 213.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after buying an additional 700,732 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of EQT by 1,286.2% in the 2nd quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock valued at $42,920,000 after buying an additional 682,844 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT News Summary

Here are the key news stories impacting EQT this week:

About EQT

(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.

Recommended Stories

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.