EQT (NYSE:EQT) Price Target Raised to $70.00

EQT (NYSE:EQT) had its target price lifted by analysts at The Goldman Sachs Group from $66.00 to $70.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 14.09% from the stock’s current price.

A number of other research firms have also recently issued reports on EQT. Barclays lowered their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of EQT in a research note on Monday. Melius assumed coverage on EQT in a report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on EQT from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. Finally, UBS Group lifted their price target on EQT from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.83.

EQT Price Performance

NYSE EQT traded up $0.19 on Thursday, hitting $61.36. 548,566 shares of the company’s stock were exchanged, compared to its average volume of 8,159,856. The stock has a 50-day moving average of $56.33 and a 200-day moving average of $54.89. The stock has a market cap of $38.29 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 0.49 and a beta of 0.62. EQT has a 52 week low of $42.27 and a 52 week high of $62.00. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.EQT’s revenue for the quarter was up 52.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 EPS. Analysts expect that EQT will post 3.27 earnings per share for the current year.

Insider Buying and Selling at EQT

In related news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the transaction, the executive vice president directly owned 69,486 shares of the company’s stock, valued at $3,668,165.94. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EQT. Philadelphia Trust Co. raised its stake in shares of EQT by 665.8% in the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer’s stock valued at $2,905,000 after purchasing an additional 47,271 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of EQT in the first quarter valued at $1,957,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of EQT by 25.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,525,776 shares of the oil and gas producer’s stock valued at $134,952,000 after purchasing an additional 506,970 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of EQT by 2.6% during the second quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after acquiring an additional 7,647 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in shares of EQT during the 1st quarter valued at $280,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.