EQT (NYSE:EQT) Price Target Raised to $53.00

EQT (NYSE:EQT) had its price objective hoisted by Wells Fargo & Company from $52.00 to $53.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

Several other research analysts have also commented on the stock. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Monday, December 30th. Bank of America started coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target for the company. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $57.00 in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Finally, UBS Group increased their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

EQT Stock Down 0.0 %

EQT stock opened at $48.99 on Wednesday. The company has a 50 day moving average of $44.56 and a two-hundred day moving average of $38.26. The company has a market cap of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.14. EQT has a 12-month low of $30.02 and a 12-month high of $50.03. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

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

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of EQT. Davis Investment Partners LLC grew its position in EQT by 1.0% during 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 acquiring an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of EQT by 7.4% in 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 buying an additional 421 shares during the last quarter. Ballentine Partners LLC lifted its position 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 worth $233,000 after buying an additional 486 shares in the last quarter. Financial Avengers Inc. grew its holdings in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares during the last quarter. Finally, Quarry LP increased its position in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. 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.