EQT (NYSE:EQT) Price Target Raised to $66.00 at The Goldman Sachs Group

EQT (NYSE:EQT) had its price objective increased by equities researchers at The Goldman Sachs Group from $59.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 24.77% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group boosted their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday, January 15th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

EQT Stock Performance

EQT opened at $52.90 on Wednesday. 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 firm has a fifty day moving average price of $48.47 and a 200 day moving average price of $40.81. EQT has a 1 year low of $30.02 and a 1 year high of $54.85. The stock has a market cap of $31.56 billion, a P/E ratio of 62.97, a P/E/G ratio of 0.62 and a beta of 1.08.

Insider Activity at EQT

In related 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 completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its stake in EQT by 16.9% during the third quarter. CWM LLC now owns 13,218 shares of the oil and gas producer’s stock worth $484,000 after buying an additional 1,910 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in EQT by 693.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,204 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 2,800 shares during the period. Valeo Financial Advisors LLC purchased a new position in EQT during the third quarter worth about $239,000. Exchange Traded Concepts LLC boosted its stake in EQT by 780.6% during the third quarter. Exchange Traded Concepts LLC now owns 6,085 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 5,394 shares during the period. Finally, Procyon Advisors LLC boosted its stake in EQT by 41.0% during the third quarter. Procyon Advisors LLC now owns 23,872 shares of the oil and gas producer’s stock worth $875,000 after buying an additional 6,946 shares during the period. 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.