EQT’s (EQT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

EQT (NYSE:EQT)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $49.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 1.77% from the company’s previous close.

EQT has been the subject of a number of other reports. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their target price on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $47.78.

EQT Price Performance

Shares of EQT opened at $48.15 on Monday. The company has a 50 day moving average of $43.84 and a 200-day moving average of $38.04. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $28.73 billion, a P/E ratio of 57.32 and a beta of 1.12. EQT has a twelve month low of $30.02 and a twelve month high of $48.52.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.30 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that EQT will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp lifted its stake in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC bought a new stake in EQT during the 3rd quarter worth $562,494,000. Geode Capital Management LLC increased its holdings in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after purchasing an additional 253,186 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.