EQT (NYSE:EQT) Downgraded to “Strong Sell” Rating by Zacks Research

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

EQT has been the subject of several other research reports. Citigroup cut their price target on EQT from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens boosted their price objective on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group dropped their price objective on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company lifted their target price on shares of EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.08.

EQT Price Performance

EQT stock opened at $52.58 on Tuesday. The business’s 50 day simple moving average is $52.48 and its 200 day simple moving average is $56.48. EQT has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 12.20 and a beta of 0.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. Sell-side analysts forecast that EQT will post 4.08 EPS for the current year.

Insider Activity

In related news, CEO Toby Z. Rice sold 1,731 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. This represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after buying an additional 198 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC grew its stake in EQT by 0.5% during the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after acquiring an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in EQT by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after acquiring an additional 236 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings 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 acquiring an additional 280 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Citigroup maintains a Buy rating. Citi lowered its price target from $70 to $67 but still implies substantial upside from current levels, signaling continued confidence in EQT’s valuation and natural-gas outlook. Citi Keeps Their Buy Rating on EQT
• Positive Sentiment: Long-term gas demand is becoming a central investment thesis. EQT is positioning its production and infrastructure to benefit from data-center electricity demand, power contracts, pipeline expansion and global LNG growth. This could improve demand visibility over time, although near-term execution remains important. How EQT Is Positioning for Data Center, Power & Global LNG Demand
• Positive Sentiment: Energy-sector rotation is providing a relative boost. Some investors are shifting capital away from technology stocks after an AI-related selloff and toward energy companies, with EQT identified as a favored natural-gas name. Stocks Standing Out as the Tech Rally Cracks
• Neutral Sentiment: Several headlines concern EQT AB, not EQT Corporation. EQT AB is selling Quantios and is pursuing a bid for Australia’s Perpetual. These private-equity transactions do not directly affect NYSE-listed EQT Corporation’s operating results or valuation and may create headline confusion. EQT to Sell Quantios Perpetual Rejects EQT Takeover Offer
• Negative Sentiment: Fundamentals remain a constraint. EQT recently missed quarterly EPS and revenue expectations, while revenue declined year over year. The lower Citi target also reflects more measured near-term expectations despite the retained Buy rating.

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.