Cowen and Company Reiterates “Buy” Rating for EQT Corporation (EQT)
EQT Corporation (NYSE:EQT)‘s stock had its “buy” rating restated by equities researchers at Cowen and Company in a report issued on Tuesday. They currently have a $80.00 target price on the oil and gas producer’s stock. Cowen and Company’s target price would suggest a potential upside of 26.76% from the company’s current price.
EQT has been the subject of several other reports. Stifel Nicolaus upped their price objective on shares of EQT Corporation from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $69.00 price objective on shares of EQT Corporation in a research note on Tuesday, July 4th. Howard Weil raised shares of EQT Corporation from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, July 14th. Royal Bank Of Canada set a $79.00 price objective on shares of EQT Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, BidaskClub raised shares of EQT Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $80.17.
EQT Corporation (NYSE:EQT) opened at 63.11 on Tuesday. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The stock has a 50 day moving average price of $62.25 and a 200 day moving average price of $59.64. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 2253.93 and a beta of 0.79.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The company’s revenue was up 720.1% on a year-over-year basis. Equities research analysts forecast that EQT Corporation will post $0.99 earnings per share for the current year.
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In other news, Director A. Bray Jr. Cary purchased 28,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were purchased at an average price of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the acquisition, the director now directly owns 22,627 shares in the company, valued at approximately $1,211,675.85. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Joseph Mcnally purchased 1,500 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $50.00 per share, for a total transaction of $75,000.00. The disclosure for this purchase can be found here. Insiders have acquired 41,901 shares of company stock valued at $2,211,775 in the last ninety days. Insiders own 1.00% of the company’s stock.
Several large investors have recently bought and sold shares of EQT. Point72 Asia Hong Kong Ltd purchased a new stake in shares of EQT Corporation during the first quarter valued at approximately $110,000. Invictus RG purchased a new stake in shares of EQT Corporation during the first quarter valued at approximately $119,000. Pacer Advisors Inc. grew its holdings in shares of EQT Corporation by 3.1% during the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock valued at $199,000 after buying an additional 99 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in shares of EQT Corporation during the second quarter valued at approximately $205,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of EQT Corporation during the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 90.55% of the company’s stock.
EQT Corporation 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.
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