EQT (NYSE:EQT) Price Target Cut to $61.00 by Analysts at Wolfe Research

EQT (NYSE:EQT) had its price objective decreased by investment analysts at Wolfe Research from $70.00 to $61.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s target price would indicate a potential upside of 15.34% from the company’s current price.

Several other equities analysts have also recently weighed in on EQT. UBS Group lifted their price target on EQT from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, December 12th. William Blair started coverage on shares of EQT in a research note on Tuesday, October 14th. They issued an “outperform” rating on the stock. Wells Fargo & Company reduced their target price on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their target price on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Mizuho increased their target price on shares of EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold 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 $64.65.

EQT Stock Performance

Shares of EQT stock opened at $52.89 on Monday. The firm has a market capitalization of $33.00 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.30 and a beta of 0.68. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 12 month low of $43.57 and a 12 month high of $62.23. The business’s 50-day moving average price is $56.53 and its 200-day moving average price is $54.73.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The company’s quarterly revenue was up 52.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. Equities research analysts forecast that EQT will post 3.27 EPS for the current year.

Insider Buying and Selling at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new position in EQT in the 2nd quarter valued at approximately $41,000. Anchor Investment Management LLC raised its position in shares of EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. Private Trust Co. NA boosted its position in shares of EQT by 38.1% in the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 283 shares during the last quarter. Quent Capital LLC acquired a new stake in EQT in the 3rd quarter valued at $94,000. Finally, Cullen Frost Bankers Inc. purchased a new position in EQT in the second quarter valued at about $110,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

About EQT

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.