Truist Financial Boosts EQT (NYSE:EQT) Price Target to $56.00

EQT (NYSE:EQT) had its price target lifted by Truist Financial from $41.00 to $56.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price objective indicates a potential upside of 14.36% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup raised their price target on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens boosted their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

EQT Price Performance

Shares of EQT stock traded down $0.03 during mid-day trading on Monday, reaching $48.97. The stock had a trading volume of 891,831 shares, compared to its average volume of 7,037,254. The company has a market cap of $29.22 billion, a P/E ratio of 58.30 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12-month low of $30.02 and a 12-month high of $50.03. The business has a 50-day simple moving average of $44.56 and a 200 day simple moving average of $38.27.

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

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC grew its position in EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama grew its position in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares during the last quarter. FMR LLC increased its stake in EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Tidal Investments LLC raised its holdings in EQT by 55.8% in the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after acquiring an additional 21,789 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Company Profile

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.