EQT (NYSE:EQT) Price Target Raised to $53.00

EQT (NYSE:EQT) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $50.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.72% from the stock’s current price.

EQT has been the topic of several other research reports. Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America began coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. StockNews.com raised EQT to a “sell” rating in a research note on Monday, December 30th. UBS Group upped their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein began coverage on shares of EQT in a report on Friday, December 6th. They set a “market perform” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

EQT Trading Down 0.7 %

EQT opened at $47.02 on Friday. The firm has a 50 day simple moving average of $43.42 and a 200 day simple moving average of $37.90. The company has a market cap of $28.06 billion, a price-to-earnings ratio of 55.98 and a beta of 1.12. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. On average, sell-side analysts anticipate that EQT will post 1.37 earnings per share for the current year.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently modified their holdings of the stock. HM Payson & Co. bought a new stake in shares of EQT during the 3rd quarter worth about $25,000. Truvestments Capital LLC acquired a new stake in EQT during the third quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the last quarter. Quarry LP boosted its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of EQT in the third quarter valued at approximately $36,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.