Cowen began coverage on shares of EQT (NYSE:EQT) in a research note issued to investors on Tuesday, The Fly reports. The firm issued a market perform rating and a $24.00 price target on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut EQT from an outperform rating to a sector perform rating in a report on Monday, January 7th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a hold rating and issued a $21.00 price target on shares of EQT in a research note on Tuesday, January 29th. Stifel Nicolaus set a $79.00 price target on EQT and gave the company a buy rating in a research note on Thursday, December 20th. Credit Suisse Group reaffirmed a buy rating and issued a $24.00 price target on shares of EQT in a research note on Tuesday, January 22nd. Finally, Morgan Stanley set a $10.00 price target on EQT and gave the company a sell rating in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $37.47.

Shares of NYSE:EQT opened at $20.93 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.57 and a beta of 0.70. EQT has a 52-week low of $16.29 and a 52-week high of $31.28.

EQT (NYSE:EQT) last issued its earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.02). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.27 billion. EQT had a negative net margin of 45.88% and a positive return on equity of 4.46%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, equities analysts expect that EQT will post 1.38 earnings per share for the current fiscal year.

In other news, CEO Robert Joseph Mcnally bought 1,496 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average price of $19.10 per share, with a total value of $28,573.60. Following the purchase, the chief executive officer now owns 180,245 shares in the company, valued at $3,442,679.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Joseph Smith bought 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average cost of $19.06 per share, for a total transaction of $320,208.00. Following the purchase, the senior vice president now owns 42,102 shares in the company, valued at approximately $802,464.12. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 59,459 shares of company stock worth $1,177,466. Corporate insiders own 0.68% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in EQT by 1.9% during the 1st quarter. State of Alaska Department of Revenue now owns 27,406 shares of the oil and gas producer’s stock worth $568,000 after acquiring an additional 505 shares in the last quarter. LMR Partners LLP lifted its stake in EQT by 3.4% during the 4th quarter. LMR Partners LLP now owns 17,245 shares of the oil and gas producer’s stock worth $326,000 after acquiring an additional 563 shares in the last quarter. Keeley Teton Advisors LLC lifted its stake in EQT by 1.2% during the 4th quarter. Keeley Teton Advisors LLC now owns 52,582 shares of the oil and gas producer’s stock worth $993,000 after acquiring an additional 645 shares in the last quarter. Eaton Vance Management lifted its stake in EQT by 0.3% during the 4th quarter. Eaton Vance Management now owns 196,459 shares of the oil and gas producer’s stock worth $3,711,000 after acquiring an additional 677 shares in the last quarter. Finally, Financial Architects Inc lifted its stake in EQT by 55.1% during the 4th quarter. Financial Architects Inc now owns 2,131 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 757 shares in the last quarter. 96.49% 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. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Analyst Recommendations for EQT (NYSE:EQT)

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