Stephens Cuts EQT (NYSE:EQT) Price Target to $68.00

EQT (NYSE:EQTFree Report) had its target price lowered by Stephens from $69.00 to $68.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Stephens currently has an overweight rating on the oil and gas producer’s stock.

Several other analysts also recently weighed in on the company. Royal Bank Of Canada boosted their target price on EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. UBS Group reaffirmed a “buy” rating on shares of EQT in a research report on Wednesday. Wells Fargo & Company reduced their price objective on EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Siebert Williams Shank decreased their price objective on EQT from $62.00 to $59.00 and set a “hold” rating for the company in a report on Monday, October 13th. Finally, Citigroup lowered their target price on shares of EQT from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Nineteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.59.

Read Our Latest Report on EQT

EQT Price Performance

Shares of EQT opened at $55.56 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The stock has a market cap of $34.67 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.45 and a beta of 0.68. The firm has a fifty day moving average price of $55.32 and a 200 day moving average price of $54.25.

Insider Buying and Selling at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of EQT stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the transaction, the executive vice president directly owned 69,486 shares in the company, valued at approximately $3,668,165.94. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On EQT

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in EQT by 22.9% in the 4th quarter. Farther Finance Advisors LLC now owns 10,738 shares of the oil and gas producer’s stock valued at $576,000 after buying an additional 2,000 shares during the last quarter. City Holding Co. raised its position in EQT by 1,708.5% during the 4th quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 1,401 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in EQT during the 4th quarter worth $1,099,000. Sound Income Strategies LLC lifted its stake in shares of EQT by 186.4% in the 4th quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 824 shares during the period. Finally, Independence Bank of Kentucky purchased a new stake in shares of EQT in the fourth quarter valued at about $800,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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EQT Company Profile

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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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