EQT (NYSE:EQT) Upgraded by StockNews.com to Sell Rating

EQT (NYSE:EQT) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research report issued on Monday.

Several other equities research analysts also recently issued reports on EQT. Wells Fargo & Company boosted their price objective on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Morgan Stanley boosted their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Sanford C. Bernstein began coverage on shares of EQT in a research report on Friday, December 6th. They issued a “market perform” rating and a $50.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.61.

EQT Stock Down 1.0 %

EQT stock opened at $46.11 on Monday. EQT has a 1-year low of $30.02 and a 1-year high of $48.02. The business’s 50 day simple moving average is $42.82 and its 200 day simple moving average is $37.71. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $27.51 billion, a PE ratio of 54.89 and a beta of 1.14.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. As a group, research analysts anticipate that EQT will post 1.37 EPS for the current year.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. State Street Corp increased its holdings in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Modera Wealth Management LLC bought a new position in EQT in the third quarter valued at about $562,494,000. Geode Capital Management LLC boosted its stake in shares of EQT by 34.4% during the third 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. Finally, Clearbridge Investments LLC increased its stake in shares of EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after buying an additional 253,186 shares during the period. 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.