EQT (NYSE:EQT) Price Target Raised to $53.00 at JPMorgan Chase & Co.

EQT (NYSE:EQT) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $50.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.93% from the company’s current price.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Stephens raised their price objective on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Finally, Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $47.39.

EQT Stock Performance

NYSE:EQT opened at $47.35 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The business has a 50 day moving average price of $43.22 and a 200-day moving average price of $37.84. The firm has a market cap of $28.25 billion, a PE ratio of 56.37 and a beta of 1.14.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the business posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that EQT will post 1.37 earnings per share 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 dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Davis Investment Partners LLC boosted its holdings in EQT by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after buying an additional 317 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of EQT by 7.4% during the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 421 shares in the last quarter. Ballentine Partners LLC grew its holdings in EQT by 8.4% during the 2nd quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 486 shares in the last quarter. Financial Avengers Inc. increased its position in EQT by 100.8% in the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares during the last quarter. Finally, Quarry LP raised its position in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.