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

EQT (NYSE:EQT) had its price objective raised by investment analysts at Wells Fargo & Company from $52.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.23% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America started coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. Jefferies Financial Group upped their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research 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 report on Friday, December 6th. Finally, Mizuho raised 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 report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

EQT Stock Up 1.7 %

Shares of EQT stock opened at $48.97 on Wednesday. The stock’s fifty day moving average price is $44.29 and its 200 day moving average price is $38.19. EQT has a 1-year low of $30.02 and a 1-year high of $49.20. The company has a market cap of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.14. 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 issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The business 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 revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, research analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. grew its holdings in shares of EQT by 24.2% during the 4th quarter. Fulton Bank N.A. now owns 14,478 shares of the oil and gas producer’s stock worth $668,000 after purchasing an additional 2,817 shares during the period. Everence Capital Management Inc. purchased a new position in EQT during the fourth quarter worth about $1,272,000. General Partner Inc. acquired a new stake in shares of EQT during the fourth quarter valued at about $266,000. GAMMA Investing LLC raised its stake in shares of EQT by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 8,400 shares of the oil and gas producer’s stock valued at $387,000 after acquiring an additional 3,333 shares during the period. Finally, Versant Capital Management Inc raised its position in EQT by 144.6% in the fourth quarter. Versant Capital Management Inc now owns 2,052 shares of the oil and gas producer’s stock valued at $95,000 after purchasing an additional 1,213 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.