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

EQT (NYSE:EQT) had its target price upped by stock analysts at Wolfe Research from $64.00 to $69.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s price objective would suggest a potential upside of 13.75% from the stock’s current price.

Several other brokerages have also recently issued reports on EQT. Stephens upped their price objective on EQT from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Citigroup reduced their target price on EQT from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 19th. Jefferies Financial Group restated a “buy” rating on shares of EQT in a research report on Sunday, January 18th. Barclays upped their target price on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Finally, UBS Group lowered their price objective on shares of EQT from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $68.38.

EQT Stock Performance

Shares of EQT opened at $60.66 on Monday. The company has a 50-day moving average of $60.47 and a two-hundred day moving average of $57.01. The stock has a market cap of $37.90 billion, a P/E ratio of 18.33, a PEG ratio of 1.14 and a beta of 0.70. EQT has a 12-month low of $44.55 and a 12-month high of $68.24. 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 announced its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.EQT’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, research analysts predict that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity at EQT

In related news, insider Lesley Evancho sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the transaction, the insider directly owned 184,607 shares in the company, valued at $11,203,798.83. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 owned 58,796 shares in the company, valued at $3,593,611.52. This represents a 35.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,158 shares of company stock worth $3,742,983. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its holdings in EQT by 104.4% during the fourth quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock valued at $2,186,000 after purchasing an additional 20,828 shares in the last quarter. Adalta Capital Management LLC raised its holdings in shares of EQT by 23.2% in the 4th quarter. Adalta Capital Management LLC now owns 13,920 shares of the oil and gas producer’s stock worth $746,000 after buying an additional 2,620 shares in the last quarter. Adams Natural Resources Fund Inc. raised its holdings in shares of EQT by 19.1% in the 4th quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock worth $14,075,000 after buying an additional 42,100 shares in the last quarter. Beck Capital Management LLC lifted its position in shares of EQT by 0.7% during the 4th quarter. Beck Capital Management LLC now owns 119,508 shares of the oil and gas producer’s stock worth $6,406,000 after buying an additional 775 shares during the period. Finally, Motley Fool Asset Management LLC lifted its position in shares of EQT by 9.0% during the 4th quarter. Motley Fool Asset Management LLC now owns 11,075 shares of the oil and gas producer’s stock worth $594,000 after buying an additional 918 shares during the period. Institutional investors and hedge funds 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.