EQT’s (EQT) Overweight Rating Reiterated at Stephens

EQT (NYSE:EQT)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a report released on Thursday, Benzinga reports. They presently have a $71.00 target price on the oil and gas producer’s stock. Stephens’ price objective would indicate a potential upside of 40.96% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Freedom Capital upgraded EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Truist Financial reduced their target price on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Wall Street Zen lowered EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings cut EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group cut their price target on shares of EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.14.

EQT Price Performance

Shares of EQT stock opened at $50.37 on Thursday. EQT has a 52-week low of $47.94 and a 52-week high of $68.24. The stock has a market cap of $31.51 billion, a PE ratio of 11.69 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day moving average price is $52.94 and its two-hundred day moving average price is $56.04.

EQT (NYSE:EQT) last issued its 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The business’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, analysts forecast that EQT will post 3.92 EPS for the current year.

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently modified their holdings of the business. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT during the 2nd quarter worth approximately $26,000. Community Bank N.A. grew its stake in EQT by 198.9% in the 2nd quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 348 shares during the last quarter. Anchor Investment Management LLC increased its position in EQT by 76.0% during the 2nd quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 228 shares during the period. Finally, Wedbush Fund Advisers LLC raised its position in shares of EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 413 shares in 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: JPMorgan raised its price target for EQT Corporation to $68 from $65 and maintained an Overweight rating, indicating continued confidence in the company’s valuation and outlook. JPMorgan raises EQT price target
• Neutral Sentiment: Unusually heavy put-option activity was reported, with 23,008 puts purchased—about 66% above typical volume. This signals increased short-term hedging or bearish speculation, but options activity alone does not confirm a fundamental change in EQT Corporation’s business.
• Neutral Sentiment: Reports that EQT plans to invest up to $50 billion in India, including approximately $30 billion in data centers, relate to EQT AB and its investment platform. They do not represent a new investment program by EQT Corporation. EQT India investment plans
• Neutral Sentiment: Similarly, reports about EQT AB’s logistics-portfolio sale, the sale of cybersecurity company Ontinue, and a potential partnership with Norges Bank Investment Management to bid for Acciona Energía concern private-equity transactions rather than EQT Corporation’s natural-gas operations. EQT logistics portfolio sale
• Negative Sentiment: The elevated put buying may be contributing to near-term caution toward EQT Corporation (EQT), particularly as the shares remain below their longer-term moving average and the company’s latest reported quarter missed consensus expectations for both earnings and revenue.

About EQT

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.