Barclays Lowers EQT (NYSE:EQT) Price Target to $67.00

EQT (NYSE:EQT) had its price target reduced by stock analysts at Barclays from $68.00 to $67.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s target price indicates a potential upside of 16.92% from the stock’s previous close.

Several other research firms also recently weighed in on EQT. JPMorgan Chase & Co. dropped their target price on EQT from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. Citigroup upped their target price on shares of EQT from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Mizuho decreased their price target on shares of EQT from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Jefferies Financial Group dropped their price target on shares of EQT from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company lifted their target price on EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, June 16th. Fifteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

EQT Stock Up 0.2%

NYSE EQT opened at $57.30 on Tuesday. The business’s fifty day simple moving average is $52.08 and its 200-day simple moving average is $53.44. EQT has a 52 week low of $35.44 and a 52 week high of $61.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a market cap of $35.76 billion, a PE ratio of 30.95, a P/E/G ratio of 0.46 and a beta of 0.50.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter in the prior year, the company posted ($0.08) earnings per share. As a group, equities analysts anticipate that EQT will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares of the company’s stock, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. acquired a new position in shares of EQT in the 1st quarter valued at about $216,000. Allianz Asset Management GmbH increased its position in EQT by 36.3% during the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer’s stock worth $10,989,000 after purchasing an additional 54,779 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new position in EQT in the first quarter valued at approximately $1,284,000. Axxcess Wealth Management LLC raised its stake in shares of EQT by 7.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer’s stock valued at $356,000 after acquiring an additional 434 shares during the period. Finally, Philadelphia Trust Co. lifted its holdings in shares of EQT by 665.8% during the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer’s stock valued at $2,905,000 after acquiring an additional 47,271 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.