EQT (NYSE:EQT) Stock Price Expected to Rise, Stephens Analyst Says

EQT (NYSE:EQT) had its price objective increased by Stephens from $71.00 to $78.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ price objective would suggest a potential upside of 26.82% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Sanford C. Bernstein lifted their price objective on shares of EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Siebert Williams Shank increased their target price on shares of EQT from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Mizuho raised their target price on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. lifted their price target on EQT from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Finally, Capital One Financial upped their price target on EQT from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

EQT Stock Performance

EQT stock traded down $2.13 during mid-day trading on Tuesday, hitting $61.51. The company had a trading volume of 3,384,616 shares, compared to its average volume of 10,194,823. The company has a market capitalization of $38.43 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.23 and a beta of 0.72. EQT has a 12-month low of $43.57 and a 12-month high of $68.24. The company’s fifty day moving average is $60.17 and its 200-day moving average is $56.79. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.14. EQT had a net margin of 23.59% and a return on equity of 7.25%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Equities research analysts predict that EQT will post 3.27 EPS for the current year.

Insider Activity at EQT

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $64.49, for a total value of $314,453.24. Following the transaction, the executive vice president owned 52,953 shares in the company, valued at approximately $3,414,938.97. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd James sold 32,514 shares of EQT stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the sale, the chief accounting officer directly owned 58,796 shares in the company, valued at approximately $3,593,611.52. This trade represents a 35.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,158 shares of company stock valued at $3,742,983. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently bought and sold shares of the business. Greykasell Wealth Strategies Inc. purchased a new position in shares of EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC acquired a new position in EQT in the fourth quarter valued at about $31,000. Fortitude Family Office LLC boosted its stake in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in EQT during the second quarter worth about $41,000. Finally, Anchor Investment Management LLC increased its position in shares of EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 500 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About EQT

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.