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

EQT (NYSE:EQT) had its price objective boosted by Wells Fargo & Company from $52.00 to $53.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other brokerages have also recently issued reports on EQT. Piper Sandler upped their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $57.00 in a research note on Monday, December 16th. Bank of America began coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Jefferies Financial Group raised their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Stock Up 1.7 %

EQT stock opened at $48.97 on Wednesday. The stock’s fifty day moving average is $44.05 and its two-hundred day moving average is $38.12. The stock has a market cap of $29.22 billion, a PE ratio of 58.30 and a beta of 1.14. EQT has a 1-year low of $30.02 and a 1-year high of $49.20. 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 posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, sell-side analysts expect that EQT will post 1.37 EPS for the current fiscal year.

Insider Activity at EQT

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQT. Wellington Management Group LLP boosted its position in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp lifted its stake in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Modera Wealth Management LLC purchased a new stake in EQT during the third quarter worth about $562,494,000. Geode Capital Management LLC grew its position in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after buying an additional 253,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.