EQT (NYSE:EQT) Price Target Raised to $69.00 at Barclays

EQT (NYSE:EQT) had its price objective raised by equities research analysts at Barclays from $67.00 to $69.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s target price suggests a potential upside of 6.51% from the stock’s previous close.

EQT has been the subject of a number of other reports. Capital One Financial boosted their target price on EQT from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research report on Wednesday, February 18th. Siebert Williams Shank lifted their price objective on EQT from $59.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 26th. Mizuho boosted their price objective on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Stephens increased their target price on EQT from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.18.

EQT Trading Up 0.6%

EQT traded up $0.42 during mid-day trading on Monday, hitting $64.79. The stock had a trading volume of 1,999,031 shares, compared to its average volume of 10,411,438. The stock’s fifty day simple moving average is $56.94 and its 200-day simple moving average is $55.63. 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 $40.48 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.72. EQT has a 1-year low of $43.57 and a 1-year high of $65.34.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.14. EQT had a net margin of 23.59% and a return on equity of 7.25%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.13 billion. The firm’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. As a group, research analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity at EQT

In related news, insider Lesley Evancho sold 20,000 shares of EQT stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the completion of the transaction, the insider owned 184,607 shares in the company, valued at approximately $11,203,798.83. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 3,768 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $60.37, for a total value of $227,474.16. Following the transaction, the executive vice president directly owned 52,806 shares in the company, valued at approximately $3,187,898.22. This trade represents a 6.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,282 shares of company stock worth $3,428,530. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. acquired a new stake in EQT during the 4th quarter valued at $26,000. Aventura Private Wealth LLC bought a new position in EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC increased its holdings in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EQT in the second quarter valued at $41,000. Finally, Elyxium Wealth LLC bought a new position in shares of EQT in the fourth quarter valued at about $49,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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.