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

EQT (NYSE:EQT) had its price objective hoisted by equities research analysts at Evercore from $60.00 to $70.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Evercore’s price target indicates a potential upside of 15.57% from the company’s current price.

Several other equities research analysts also recently commented on EQT. Capital One Financial upped their target price on shares of EQT from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. BMO Capital Markets increased their price objective on shares of EQT from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. Mizuho increased their price objective on shares of EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Citigroup lowered their price objective 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. Finally, Barclays increased their target price on shares of EQT from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.38.

EQT Stock Up 0.3%

Shares of NYSE:EQT opened at $60.57 on Monday. EQT has a 52 week low of $44.85 and a 52 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. The company has a market capitalization of $37.85 billion, a PE ratio of 18.30, a PEG ratio of 1.14 and a beta of 0.70. The company has a 50 day moving average price of $60.68 and a two-hundred day moving average price of $57.17.

EQT (NYSE:EQT) last issued 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. EQT had a net margin of 23.59% and a return on equity of 7.25%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts forecast that EQT will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.49, for a total value 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. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd James sold 32,514 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the completion of the sale, the chief accounting officer owned 58,796 shares of the company’s stock, valued at approximately $3,593,611.52. This represents a 35.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,158 shares of company stock worth $3,742,983. 0.72% of the stock is owned by insiders.

Institutional Trading of EQT

Hedge funds have recently modified their holdings of the stock. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT during the 4th quarter worth about $26,000. Aventura Private Wealth LLC acquired a new stake in shares of EQT during the 4th quarter worth about $31,000. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 280 shares during the last quarter. Anchor Investment Management LLC lifted its stake in shares of 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 buying an additional 500 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of EQT during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.