EQT (EQT) Coverage Initiated at Credit Suisse Group

Equities research analysts at Credit Suisse Group began coverage on shares of EQT (NYSE:EQT) in a research report issued on Monday, December 11th, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $70.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price target indicates a potential upside of 27.81% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reiterated a “buy” rating and set a $75.00 price objective on shares of EQT in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 price objective on shares of EQT in a research note on Thursday, September 14th. Jefferies Group reiterated a “hold” rating and set a $66.00 price objective on shares of EQT in a research note on Tuesday, October 10th. SunTrust Banks reiterated a “hold” rating and set a $67.00 price objective on shares of EQT in a research note on Friday, October 27th. Finally, Cowen set a $80.00 price objective on shares of EQT and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. EQT currently has a consensus rating of “Buy” and an average target price of $76.75.

Shares of EQT (EQT) traded down $0.65 during trading on Monday, reaching $54.77. 2,203,357 shares of the company’s stock were exchanged, compared to its average volume of 4,290,000. The firm has a market capitalization of $14,550.00, a P/E ratio of 273.85, a price-to-earnings-growth ratio of 4.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60. EQT has a 12-month low of $49.63 and a 12-month high of $67.84.

EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. The firm had revenue of $660.30 million for the quarter, compared to the consensus estimate of $667.05 million. EQT had a net margin of 1.39% and a return on equity of 1.61%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.26) earnings per share. research analysts forecast that EQT will post 0.89 earnings per share for the current year.

In related news, Chairman David L. Porges sold 53,760 shares of EQT stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the sale, the chairman now directly owns 438,601 shares in the company, valued at approximately $25,938,863.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Karam bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $59.26 per share, for a total transaction of $592,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,185,200. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC boosted its position in EQT by 13.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after buying an additional 270,054 shares during the period. State of Tennessee Treasury Department boosted its position in EQT by 22.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 821,326 shares of the oil and gas producer’s stock worth $53,584,000 after buying an additional 150,856 shares during the period. Lord Abbett & CO. LLC boosted its position in EQT by 2.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 697,211 shares of the oil and gas producer’s stock worth $40,850,000 after buying an additional 14,019 shares during the period. Mitchell Group Inc. boosted its position in EQT by 11.1% during the 2nd quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after buying an additional 55,330 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in EQT by 8.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 474,265 shares of the oil and gas producer’s stock worth $27,787,000 after buying an additional 38,836 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

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EQT Company Profile

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.