Stephens Raises EQT (NYSE:EQT) Price Target to $72.00

EQT (NYSE:EQTGet Free Report) had its target price hoisted by investment analysts at Stephens from $71.00 to $72.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ price target indicates a potential upside of 34.72% from the company’s previous close.

A number of other brokerages also recently commented on EQT. Truist Financial decreased their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. UBS Group cut their target price on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Roth Capital reiterated a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price target on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Finally, Barclays boosted their price target on EQT from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.21.

Check Out Our Latest Research Report on EQT

EQT Price Performance

NYSE:EQT opened at $53.45 on Wednesday. EQT has a 1-year low of $47.94 and a 1-year high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $52.92 and a 200 day simple moving average of $56.51. The stock has a market capitalization of $33.43 billion, a PE ratio of 12.40 and a beta of 0.55.

EQT (NYSE:EQTGet Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $0.45 earnings per share. The business’s revenue was down 29.2% compared to the same quarter last year. On average, research analysts expect that EQT will post 4.25 EPS for the current fiscal year.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the sale, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. The trade was a 0.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently made changes to their positions in the company. Reaves W H & Co. Inc. increased its stake in shares of EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after purchasing an additional 132,741 shares during the period. Whittier Trust Co. boosted its stake in EQT by 9.6% in the 1st quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock valued at $38,857,000 after purchasing an additional 56,149 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in EQT by 9.1% in 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 purchasing an additional 48,587 shares during the period. SG Americas Securities LLC grew its holdings in EQT by 228.5% in the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock valued at $27,746,000 after buying an additional 360,049 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in EQT by 5.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 302,193 shares of the oil and gas producer’s stock valued at $18,252,000 after buying an additional 16,051 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

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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.

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