EQT (NYSE:EQT – Get Free Report) had its price target cut by research analysts at BMO Capital Markets from $76.00 to $70.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 25.79% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Wolfe Research upped their price objective on EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Wells Fargo & Company lifted their target price on EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Zacks Research cut EQT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Roth Mkm reissued a “neutral” rating on shares of EQT in a research report on Tuesday, April 14th. Finally, Morgan Stanley boosted their price objective on shares of EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.83.
View Our Latest Stock Analysis on EQT
EQT Trading Down 0.2%
EQT (NYSE:EQT – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts expect that EQT will post 4.65 EPS for the current year.
Insider Buying and Selling
In other news, Director Vicky A. Bailey sold 4,116 shares of EQT stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Fenton sold 4,876 shares of EQT stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $64.49, for a total value of $314,453.24. Following the sale, the executive vice president directly owned 52,953 shares of the company’s stock, valued at $3,414,938.97. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,274 shares of company stock valued at $3,989,120 in the last three months. 0.72% of the stock is currently owned by insiders.
Institutional Trading of EQT
Several institutional investors and hedge funds have recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. purchased a new stake in EQT in the 4th quarter valued at $26,000. Aventura Private Wealth LLC acquired a new position in shares of EQT during the fourth quarter worth about $31,000. Fortitude Family Office LLC increased 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 worth $31,000 after acquiring an additional 280 shares during the period. Elyxium Wealth LLC purchased a new position in EQT during the fourth quarter worth about $49,000. Finally, Root Financial Partners LLC lifted its position in EQT by 35.4% in 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 period. 90.81% of the stock is owned by hedge funds and other 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.
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