EQT Corporation (NYSE:EQT)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research report issued to clients and investors on Tuesday. They presently have a $80.00 target price on the oil and gas producer’s stock. Cowen and Company’s price objective points to a potential upside of 31.19% from the company’s previous close.
EQT has been the subject of a number of other reports. BMO Capital Markets reissued a “buy” rating and issued a $75.00 price target on shares of EQT Corporation in a research report on Friday, September 1st. Royal Bank Of Canada lowered EQT Corporation from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $86.00 to $80.00 in a research report on Wednesday, July 5th. Scotiabank set a $79.00 target price on EQT Corporation and gave the company a “buy” rating in a research report on Tuesday, August 22nd. TheStreet raised EQT Corporation from a “d+” rating to a “c-” rating in a research report on Monday, August 14th. Finally, Morgan Stanley raised their target price on EQT Corporation from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. EQT Corporation currently has a consensus rating of “Buy” and a consensus target price of $80.17.
Shares of EQT Corporation (EQT) traded up 2.05% during trading on Tuesday, reaching $62.23. 2,427,595 shares of the company were exchanged. The firm’s 50 day moving average price is $62.31 and its 200 day moving average price is $59.62. The company has a market capitalization of $10.79 billion, a PE ratio of 2222.50 and a beta of 0.79. EQT Corporation has a one year low of $49.63 and a one year high of $75.74.
EQT Corporation (NYSE:EQT) last released its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. EQT Corporation’s quarterly revenue was up 720.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) EPS. Equities research analysts forecast that EQT Corporation will post $0.99 earnings per share for the current fiscal year.
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In related news, insider Robert Joseph Mcnally bought 1,500 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $50.00 per share, for a total transaction of $75,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven T. Schlotterbeck bought 2,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was bought at an average price of $52.14 per share, with a total value of $104,280.00. Following the purchase, the chief executive officer now owns 115,178 shares in the company, valued at $6,005,380.92. The disclosure for this purchase can be found here. In the last three months, insiders purchased 41,901 shares of company stock valued at $2,211,775. 1.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. boosted its stake in EQT Corporation by 3.6% in the 2nd quarter. Whittier Trust Co. now owns 171,209 shares of the oil and gas producer’s stock worth $10,031,000 after purchasing an additional 5,872 shares during the period. South Dakota Investment Council bought a new position in EQT Corporation in the 1st quarter worth about $354,000. Knights of Columbus Asset Advisors LLC bought a new position in EQT Corporation in the 1st quarter worth about $760,000. Neuberger Berman Group LLC boosted its stake in EQT Corporation by 13.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after purchasing an additional 270,054 shares during the period. Finally, BlackRock Inc. boosted its stake in EQT Corporation by 3,346.4% in the 1st quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after purchasing an additional 13,231,032 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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