Stephens Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price boosted by equities researchers at Stephens from $71.00 to $78.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ target price would indicate a potential upside of 26.82% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. UBS Group lowered their target price on EQT from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, March 5th. The Goldman Sachs Group reduced their price target on shares of EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Mizuho raised their price objective on shares of EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Sanford C. Bernstein lifted their price objective on shares of EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Truist Financial initiated coverage on shares of EQT in a research note on Tuesday, March 24th. They set a “buy” rating and a $74.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.00.

EQT Trading Down 3.4%

NYSE:EQT traded down $2.13 during trading hours on Tuesday, reaching $61.51. 3,384,616 shares of the stock were exchanged, compared to its average volume of 10,194,823. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $60.17 and a two-hundred day moving average of $56.79. EQT has a twelve month low of $43.57 and a twelve month high of $68.24. The company has a market capitalization of $38.43 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.23 and a beta of 0.72.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.The company’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts predict that EQT will post 3.27 EPS for the current year.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $64.49, for a total value of $314,453.24. Following the transaction, the executive vice president directly owned 52,953 shares in the company, valued at $3,414,938.97. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lesley Evancho sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the sale, the insider owned 184,607 shares of the company’s stock, valued at $11,203,798.83. This represents a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 61,158 shares of company stock valued at $3,742,983. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EQT. Captrust Financial Advisors lifted its position in EQT by 104.4% in the fourth quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock valued at $2,186,000 after acquiring an additional 20,828 shares during the last quarter. Adalta Capital Management LLC boosted its stake in EQT by 23.2% in the fourth quarter. Adalta Capital Management LLC now owns 13,920 shares of the oil and gas producer’s stock valued at $746,000 after acquiring an additional 2,620 shares in the last quarter. Adams Natural Resources Fund Inc. grew its holdings in shares of EQT by 19.1% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock worth $14,075,000 after purchasing an additional 42,100 shares during the last quarter. Beck Capital Management LLC grew its holdings in shares of EQT by 0.7% during the fourth quarter. Beck Capital Management LLC now owns 119,508 shares of the oil and gas producer’s stock worth $6,406,000 after purchasing an additional 775 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its position in shares of EQT by 9.0% during the fourth quarter. Motley Fool Asset Management LLC now owns 11,075 shares of the oil and gas producer’s stock worth $594,000 after purchasing an additional 918 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.