EQT (NYSE:EQT) Upgraded at Zacks Research

EQT (NYSE:EQT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

EQT has been the topic of several other reports. Jefferies Financial Group restated a “buy” rating on shares of EQT in a research report on Sunday, January 18th. Scotiabank decreased their price objective on shares of EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. TD Cowen increased their target price on shares of EQT from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 20th. Capital One Financial lifted their price target on shares of EQT from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group restated a “buy” rating on shares of EQT in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.55.

EQT Stock Performance

NYSE EQT opened at $58.35 on Monday. The stock has a market capitalization of $36.43 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 0.42 and a beta of 0.74. The business’s 50 day moving average is $54.86 and its two-hundred day moving average is $54.69. EQT has a 12-month low of $43.57 and a 12-month high of $62.23. 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 quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, beating the consensus estimate of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Research analysts expect that EQT will post 3.27 EPS for the current year.

Insider Activity

In related news, EVP Sarah Fenton sold 3,768 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $60.37, for a total value of $227,474.16. Following the sale, the executive vice president owned 52,806 shares of the company’s stock, valued at approximately $3,187,898.22. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing 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

Several hedge funds have recently bought and sold shares of the stock. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT in the fourth quarter worth $26,000. Aventura Private Wealth LLC purchased a new stake in EQT during the 4th quarter worth about $31,000. Fortitude Family Office LLC raised 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 purchasing an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in EQT in the 2nd quarter valued at about $41,000. Finally, Elyxium Wealth LLC purchased a new position in EQT in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.