EQT (NYSE:EQT) Price Target Raised to $69.00 at Barclays

EQT (NYSE:EQT) had its price target upped by analysts at Barclays from $67.00 to $69.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price objective suggests a potential upside of 6.51% from the stock’s current price.

Other research analysts have also issued reports about the company. Scotiabank decreased their price objective on EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Jefferies Financial Group reissued a “buy” rating on shares of EQT in a report on Sunday, January 18th. Stephens boosted their target price on shares of EQT from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “buy (b-)” rating on shares of EQT in a research note on Monday, December 29th. Finally, Wolfe Research raised their price target on shares of EQT from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $66.18.

EQT Stock Performance

Shares of NYSE:EQT traded up $0.42 during trading on Monday, reaching $64.79. 1,999,031 shares of the stock were exchanged, compared to its average volume of 10,411,438. EQT has a 12 month low of $43.57 and a 12 month high of $65.34. The firm has a market cap of $40.48 billion, a PE ratio of 19.60, a PEG ratio of 0.42 and a beta of 0.72. The stock has a 50-day moving average price of $56.94 and a 200-day moving average price of $55.63. 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 EPS for the quarter, beating the consensus estimate of $0.76 by $0.14. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Research analysts expect that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity at EQT

In related news, EVP Sarah Fenton sold 3,768 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $60.37, for a total value of $227,474.16. Following the completion of the transaction, the executive vice president owned 52,806 shares of the company’s stock, valued at $3,187,898.22. This represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd James sold 32,514 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the completion of the sale, the chief accounting officer owned 58,796 shares in the company, valued at $3,593,611.52. This represents a 35.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,282 shares of company stock valued at $3,428,530. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sound Shore Management Inc CT lifted its stake in shares of EQT by 31.8% in the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock valued at $83,105,000 after acquiring an additional 368,748 shares during the last quarter. Reaves W H & Co. Inc. grew its position in EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after acquiring an additional 132,741 shares during the last quarter. Rhumbline Advisers grew its position in EQT by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock worth $60,325,000 after acquiring an additional 49,714 shares during the last quarter. Whittier Trust Co. increased its holdings in EQT by 2.3% in the 4th quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock worth $31,361,000 after purchasing an additional 13,232 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in EQT by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after purchasing an additional 48,587 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.