Evercore Boosts EQT (NYSE:EQT) Price Target to $70.00

EQT (NYSE:EQT) had its target price boosted by investment analysts at Evercore from $60.00 to $70.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Evercore’s target price indicates a potential upside of 15.40% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Scotiabank dropped their price target on EQT from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 21st. Capital One Financial upped their price target on EQT from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, March 26th. Sanford C. Bernstein increased their price objective on shares of EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, BMO Capital Markets upped their target price on shares of EQT from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.38.

EQT Stock Performance

Shares of EQT stock opened at $60.66 on Monday. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.14 and a beta of 0.70. EQT has a twelve month low of $44.55 and a twelve month high of $68.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average is $60.47 and its 200 day moving average is $57.01.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts forecast that EQT will post 3.27 EPS for the current year.

Insider Transactions at EQT

In other EQT news, CAO Todd James sold 32,514 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 58,796 shares of the company’s stock, valued at approximately $3,593,611.52. The trade was a 35.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sarah Fenton sold 4,876 shares of the firm’s 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 completion of the transaction, the executive vice president directly owned 52,953 shares in the company, valued at $3,414,938.97. This trade represents a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,158 shares of company stock worth $3,742,983 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently made changes to their positions in the business. Sound Shore Management Inc CT lifted its holdings in EQT by 31.8% in the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after purchasing an additional 368,748 shares in the last quarter. Reaves W H & Co. Inc. raised its position in shares of EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after buying an additional 132,741 shares during the last quarter. Rhumbline Advisers raised its position in shares of EQT by 4.7% during the third quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock valued at $60,325,000 after buying an additional 49,714 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of EQT by 2.3% in the fourth quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock worth $31,361,000 after buying an additional 13,232 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of EQT by 9.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after acquiring an additional 48,587 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

About EQT

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.