Jefferies Financial Group Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price target lifted by Jefferies Financial Group from $45.00 to $55.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Jefferies Financial Group’s price target suggests a potential upside of 16.97% from the stock’s current price.

A number of other brokerages have also recently weighed in on EQT. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial upped their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $47.78.

EQT Stock Performance

NYSE EQT opened at $47.02 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 1-year low of $30.02 and a 1-year high of $48.33. The firm has a market capitalization of $28.06 billion, a P/E ratio of 55.98 and a beta of 1.12. The business’s 50-day simple moving average is $43.42 and its 200-day simple moving average is $37.90.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company posted $0.30 earnings per share. EQT’s revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that EQT will post 1.37 EPS for the current year.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Trading of EQT

Large investors have recently modified their holdings of the company. Davis Investment Partners LLC boosted its holdings in shares of EQT by 1.0% in the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after acquiring an additional 317 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in EQT by 7.4% during the 3rd 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 increased its position in shares of 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 purchasing an additional 486 shares during the period. Financial Avengers Inc. raised its stake in shares of EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of EQT by 184.7% in the third 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 during the period. Institutional investors and hedge funds 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.