EQT (NYSE:EQT) Stock Price Expected to Rise, Stephens Analyst Says

EQT (NYSE:EQT) had its price objective hoisted by equities researchers at Stephens from $71.00 to $78.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ price objective would indicate a potential upside of 27.83% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. UBS Group decreased their target price on EQT from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Zacks Research raised EQT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Siebert Williams Shank increased their price target on EQT from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Piper Sandler raised their price objective on shares of EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of EQT from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

EQT Price Performance

EQT stock opened at $61.02 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.21 and a beta of 0.70. The company’s fifty day simple moving average is $60.29 and its 200 day simple moving average is $56.82. EQT has a 12-month low of $43.57 and a 12-month high of $68.24.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $0.69 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, analysts expect that EQT will post 3.27 earnings per share for the current year.

Insider Activity

In other news, EVP Sarah Fenton sold 4,876 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $314,453.24. Following the completion of the sale, the executive vice president owned 52,953 shares in the company, valued at $3,414,938.97. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 owned 58,796 shares in the company, valued at approximately $3,593,611.52. This represents a 35.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,158 shares of company stock worth $3,742,983 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently made changes to their positions in EQT. Westpac Banking Corp raised its stake in shares of EQT by 6.6% in the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock worth $145,000 after purchasing an additional 165 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 198 shares during the last quarter. Rothschild Investment LLC grew its holdings in EQT by 0.5% during the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after buying an additional 215 shares in the last quarter. Fortitude Family Office LLC grew its holdings in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in EQT by 4.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock valued at $633,000 after buying an additional 456 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.