Sanford C. Bernstein Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price reduced by Sanford C. Bernstein from $73.00 to $69.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 19.70% from the company’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company boosted their price objective on EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Morgan Stanley lifted their target price on EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Wolfe Research upped their price target on EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Siebert Williams Shank increased their price target on shares of EQT from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of EQT from $64.00 to $69.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.50.

EQT Stock Down 0.1%

EQT opened at $57.64 on Monday. EQT has a 12 month low of $47.14 and a 12 month high of $68.24. The company has a market cap of $36.02 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $60.90 and a 200 day moving average of $57.36.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business’s quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts expect that EQT will post 3.27 EPS for the current year.

Insider Transactions at EQT

In other EQT news, insider Lesley Evancho sold 20,000 shares of EQT stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the completion of the sale, the insider directly owned 184,607 shares in the company, valued at $11,203,798.83. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd James sold 32,514 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the completion of the transaction, the chief accounting officer directly owned 58,796 shares of the company’s stock, valued at approximately $3,593,611.52. This represents a 35.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,158 shares of company stock valued at $3,742,983. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of EQT

A number of hedge funds have recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. purchased a new position in EQT in the fourth quarter worth $26,000. Aventura Private Wealth LLC purchased a new stake in EQT during the fourth quarter valued at about $31,000. Fortitude Family Office LLC raised its position in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Elyxium Wealth LLC bought a new stake in EQT during the fourth quarter worth about $49,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of EQT by 133.3% in the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Company Profile

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.