EQT (NYSE:EQT) Raised to Sell at ValuEngine

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EQT (NYSE:EQT) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada upgraded shares of EQT from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $17.00 in a report on Friday, November 8th. Wells Fargo & Co reduced their target price on shares of EQT from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Tudor Pickering cut shares of EQT from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. EQT currently has an average rating of “Hold” and a consensus price target of $24.38.

EQT stock opened at $8.44 on Tuesday. The firm has a 50 day simple moving average of $9.83 and a 200-day simple moving average of $13.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $2.23 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58. EQT has a 12-month low of $8.38 and a 12-month high of $21.86.

EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.11. The business had revenue of $951.60 million during the quarter, compared to analysts’ expectations of $883.29 million. EQT had a negative net margin of 14.65% and a positive return on equity of 3.81%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts forecast that EQT will post 0.96 earnings per share for the current fiscal year.

In related news, insider (Mick) O’brien Michael 16,562 shares of the firm’s stock in a transaction dated Monday, October 28th. 0.68% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of EQT. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of EQT in the 2nd quarter valued at approximately $115,579,000. Balyasny Asset Management LLC purchased a new stake in shares of EQT in the 2nd quarter valued at approximately $39,818,000. HBK Investments L P lifted its position in shares of EQT by 66.7% in the 2nd quarter. HBK Investments L P now owns 5,000,000 shares of the oil and gas producer’s stock valued at $79,050,000 after acquiring an additional 1,999,994 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of EQT by 1,606.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,782,636 shares of the oil and gas producer’s stock valued at $18,967,000 after acquiring an additional 1,678,193 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of EQT by 91.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,674,144 shares of the oil and gas producer’s stock valued at $42,278,000 after acquiring an additional 1,276,072 shares in the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EQT (NYSE:EQT)

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