Siebert Williams Shank Boosts EQT (NYSE:EQT) Price Target to $62.00

EQT (NYSE:EQT) had its target price lifted by investment analysts at Siebert Williams Shank from $59.00 to $62.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Siebert Williams Shank’s price objective would indicate a potential upside of 11.47% from the company’s previous close.

EQT has been the subject of a number of other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of EQT in a research note on Monday, December 29th. BMO Capital Markets lowered their price objective on shares of EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Barclays cut their price target on EQT from $67.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. The Goldman Sachs Group lowered their target price on shares of EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada upped their target price on shares of EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. Nineteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

EQT Stock Performance

NYSE EQT traded up $0.10 on Monday, reaching $55.62. The stock had a trading volume of 1,205,116 shares, compared to its average volume of 12,472,614. The company has a market cap of $34.71 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 0.45 and a beta of 0.68. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a fifty day moving average of $55.32 and a two-hundred day moving average of $54.25.

Insider Transactions 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 shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On EQT

Hedge funds have recently bought and sold shares of the business. Caxton Associates LLP purchased a new position in shares of EQT in the 1st quarter worth approximately $256,000. Focus Partners Wealth lifted its stake in shares of EQT by 9.0% during the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares during the last quarter. Praxis Investment Management Inc. boosted its position in shares of EQT by 18.0% in the 2nd quarter. Praxis Investment Management Inc. now owns 32,210 shares of the oil and gas producer’s stock worth $1,878,000 after purchasing an additional 4,910 shares in the last quarter. Private Trust Co. NA raised its position in shares of EQT by 38.1% in the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 283 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings 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 buying an additional 7,647 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.