Barclays Cuts EQT (NYSE:EQT) Price Target to $64.00

EQT (NYSE:EQTFree Report) had its target price reduced by Barclays from $67.00 to $64.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Barclays currently has an overweight rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on EQT. Wall Street Zen raised shares of EQT from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EQT in a report on Monday, December 29th. Royal Bank Of Canada boosted their price objective on EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group upped their target price on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Citigroup dropped their target price on EQT from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $63.59.

Check Out Our Latest Stock Report on EQT

EQT Stock Performance

EQT stock opened at $55.56 on Wednesday. The stock’s 50-day moving average is $55.32 and its 200-day moving average is $54.25. The company has a market cap of $34.67 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 0.44 and a beta of 0.68. 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 12 month low of $43.57 and a 12 month high of $62.23.

EQT (NYSE:EQTGet Free Report) last posted its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The company’s revenue was up 52.6% on a year-over-year basis. Equities analysts anticipate that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sound Shore Management Inc CT grew its holdings in EQT by 31.8% during the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after acquiring an additional 368,748 shares in the last quarter. Sound Shore Management Inc CT bought a new position in shares of EQT during the second quarter worth about $67,539,000. Rhumbline Advisers grew its stake in EQT by 4.7% in the third quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock worth $60,325,000 after purchasing an additional 49,714 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in EQT by 213.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock valued at $56,021,000 after buying an additional 700,732 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in EQT by 1,286.2% during the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock valued at $42,920,000 after buying an additional 682,844 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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About EQT

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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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