Wolfe Research Boosts EQT (NYSE:EQT) Price Target to $69.00

EQT (NYSE:EQT) had its target price hoisted by equities research analysts at Wolfe Research from $64.00 to $69.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s price objective would suggest a potential upside of 13.92% from the company’s current price.

Other research analysts also recently issued research reports about the stock. TD Securities upgraded shares of EQT to a “strong-buy” rating in a research report on Friday, February 20th. Siebert Williams Shank boosted their price target on shares of EQT from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. BMO Capital Markets boosted their price target 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. Piper Sandler boosted their price target 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, Morgan Stanley boosted their price target on shares of EQT from $69.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.38.

EQT Trading Up 0.3%

EQT opened at $60.57 on Monday. EQT has a fifty-two week low of $44.85 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $37.85 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.14 and a beta of 0.70. The company’s 50 day moving average price is $60.68 and its two-hundred day moving average price is $57.17.

EQT (NYSE:EQT) last posted its 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 net margin of 23.59% and a return on equity of 7.25%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, research analysts predict that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

In related news, CAO Todd James sold 32,514 shares of the business’s 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 transaction, the chief accounting officer owned 58,796 shares in the company, valued at $3,593,611.52. The trade was a 35.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lesley Evancho sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the transaction, the insider owned 184,607 shares in the company, valued at $11,203,798.83. The trade was a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,158 shares of company stock worth $3,742,983 in the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sound Shore Management Inc CT lifted 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 valued at $83,105,000 after acquiring an additional 368,748 shares during the period. Reaves W H & Co. Inc. lifted its position in shares of EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the period. Rhumbline Advisers lifted its position in shares of EQT by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock valued at $60,325,000 after acquiring an additional 49,714 shares during the period. Whittier Trust Co. lifted its position in shares of EQT by 2.3% during the 4th quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock valued at $31,361,000 after acquiring an additional 13,232 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of EQT by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after acquiring an additional 48,587 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.