EQT (NYSE:EQT) Rating Increased to Hold at Zacks Research

EQT (NYSE:EQT) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on EQT. Wall Street Zen raised EQT from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Piper Sandler upped their target price on shares of EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Capital One Financial increased their target price on shares of EQT from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of EQT in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EQT from $58.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.55.

EQT Stock Performance

NYSE:EQT opened at $58.35 on Monday. EQT has a 12 month low of $43.57 and a 12 month high of $62.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $36.43 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.42 and a beta of 0.74. The business’s fifty day moving average price is $54.86 and its 200 day moving average price is $54.69.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) 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 business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm posted $0.69 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 3,768 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $60.37, for a total transaction of $227,474.16. Following the completion of the sale, the executive vice president owned 52,806 shares in the company, valued at approximately $3,187,898.22. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its stake in shares of EQT by 8,000.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer’s stock valued at $8,351,000 after purchasing an additional 151,537 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of EQT by 116.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock worth $29,092,000 after purchasing an additional 287,538 shares during the period. First American Bank purchased a new position in EQT in the 3rd quarter valued at $1,915,000. Adams Natural Resources Fund Inc. grew its position in EQT by 97.1% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer’s stock valued at $12,002,000 after buying an additional 108,600 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan increased its stake in EQT by 131.7% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 87,629 shares of the oil and gas producer’s stock valued at $4,772,000 after buying an additional 49,803 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.