EQT (NYSE:EQT) Given New $62.00 Price Target at Wolfe Research

EQT (NYSE:EQT) had its target price upped by equities research analysts at Wolfe Research from $61.00 to $62.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s price objective indicates a potential upside of 11.47% from the company’s current price.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday. Mizuho boosted their price target on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. William Blair initiated coverage on shares of EQT in a report on Tuesday, October 14th. They issued an “outperform” rating on the stock. Siebert Williams Shank raised their price target on shares of EQT from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Monday. Finally, Royal Bank Of Canada increased their target price on EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 7th. Nineteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

EQT Price Performance

EQT stock traded up $0.10 during mid-day trading on Monday, hitting $55.62. The company had a trading volume of 1,205,116 shares, compared to its average volume of 12,472,614. The company has a 50-day moving average price of $55.32 and a 200 day moving average price of $54.25. EQT has a 12-month low of $43.57 and a 12-month high of $62.23. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $34.71 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 0.45 and a beta of 0.68.

Insider Buying and Selling

In related news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was 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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EQT

Hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC purchased a new position in shares of EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC increased its stake in EQT by 95.6% during the 4th 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 stake in EQT during the 2nd quarter worth approximately $41,000. Anchor Investment Management LLC lifted its holdings in EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of EQT by 38.1% in the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.