EQT (NYSE:EQT) Given New $68.00 Price Target at JPMorgan Chase & Co.

EQT (NYSE:EQT) had its price target cut by research analysts at JPMorgan Chase & Co. from $72.00 to $68.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 32.68% from the stock’s previous close.

A number of other research firms have also recently weighed in on EQT. Roth Mkm reissued a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. Sanford C. Bernstein cut their price target on shares of EQT from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BMO Capital Markets decreased their price objective on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Wolfe Research upped their price objective on EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Evercore increased their target price on EQT from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.67.

EQT Stock Performance

EQT stock traded down $0.59 during midday trading on Tuesday, hitting $51.25. The stock had a trading volume of 770,349 shares, compared to its average volume of 8,773,141. EQT has a 52 week low of $48.47 and a 52 week high of $68.24. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $55.91 and a 200 day simple moving average of $57.21. The firm has a market capitalization of $32.06 billion, a price-to-earnings ratio of 9.73 and a beta of 0.55.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.32. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same quarter in the previous year, the firm posted $1.18 EPS. As a group, equities research analysts anticipate that EQT will post 4.7 earnings per share for the current year.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,830 shares of company stock valued at $5,602,913 over the last ninety days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in EQT. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT in the fourth quarter worth about $26,000. Aventura Private Wealth LLC acquired a new position in shares of EQT during the fourth quarter worth approximately $31,000. Fortitude Family Office LLC grew its stake in shares of 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 during the last quarter. Root Financial Partners LLC grew its stake in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 202 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of EQT in the fourth quarter valued at approximately $49,000. Institutional investors own 90.81% of the company’s stock.

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.