Citigroup Cuts EQT (NYSE:EQT) Price Target to $67.00

EQT (NYSE:EQT) had its price objective trimmed by Citigroup from $70.00 to $67.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. BMO Capital Markets cut their price target on shares of EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Truist Financial reduced their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Wells Fargo & Company boosted their price objective on shares of EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Wolfe Research increased their price objective on shares of EQT from $64.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.08.

EQT Price Performance

Shares of EQT stock opened at $52.69 on Tuesday. The business’s fifty day moving average price is $52.38 and its 200 day moving average price is $56.49. EQT has a twelve month low of $47.94 and a twelve month high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.96 billion, a P/E ratio of 12.23 and a beta of 0.55.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s revenue was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that EQT will post 4.08 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.3%. EQT’s payout ratio is 15.31%.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the transaction, the chief executive officer owned 2,333,193 shares in the company, valued at $124,732,497.78. The trade was a 0.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by company insiders.

Institutional Trading of EQT

Large investors have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in shares of EQT by 1.0% during the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 198 shares in the last quarter. Root Financial Partners LLC boosted its holdings in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC boosted its holdings in EQT by 0.5% during the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after purchasing an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in EQT by 4.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after purchasing an additional 236 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

More EQT News

Here are the key news stories impacting EQT this week:

• Positive Sentiment: J.P. Morgan maintained its Buy rating on EQT, reinforcing a constructive view of the natural-gas producer’s outlook. J.P. Morgan Sticks to Their Buy Rating for EQT
• Positive Sentiment: Recent coverage says EQT is sharpening its natural-gas strategy, which could support longer-term production efficiency, asset positioning and cash-flow generation if gas markets improve. EQT Sharpens Its Natural Gas Strategy
• Neutral Sentiment: Important name confusion: reports about EQT Real Estate’s €532 million pan-European logistics acquisition, the Perpetual takeover bid and the sale of Quantios concern EQT AB/EQT Group, not EQT Corporation’s U.S. natural-gas business. These items should not be treated as direct catalysts for NYSE: EQT. EQT Real Estate Logistics Acquisition
• Negative Sentiment: Zacks Research downgraded EQT from Hold to Strong Sell, creating a notable bearish counterpoint to the positive broker ratings. Zacks Research
• Negative Sentiment: Citigroup lowered its expectations for EQT’s stock price, signaling reduced near-term upside despite maintaining a Buy rating in separate coverage. Citigroup Lowers EQT Price Expectations

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.