EQT (NYSE:EQT) Price Target Raised to $56.00

EQT (NYSE:EQT) had its price objective raised by Truist Financial from $41.00 to $56.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Monday, December 30th. Stephens increased their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, UBS Group lifted their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. 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, EQT has an average rating of “Moderate Buy” and a consensus price target of $48.67.

EQT Trading Up 2.2 %

Shares of EQT stock opened at $50.07 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $29.88 billion, a price-to-earnings ratio of 59.61 and a beta of 1.12. EQT has a 1 year low of $30.02 and a 1 year high of $50.12. The firm has a fifty day moving average price of $44.83 and a 200-day moving average price of $38.36.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts predict that EQT will post 1.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of EQT

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