BMO Capital Markets Cuts EQT (NYSE:EQT) Price Target to $60.00

EQT (NYSE:EQT) had its price target reduced by BMO Capital Markets from $65.00 to $60.00 in a research note issued to investors on Monday,MarketScreener reports. They currently have an outperform rating on the oil and gas producer’s stock.

EQT has been the subject of a number of other reports. The Goldman Sachs Group increased their price objective on shares of EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. upped their target price on shares of EQT from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Piper Sandler raised their price target on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Scotiabank lowered their price objective on EQT from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, November 21st. Finally, Siebert Williams Shank dropped their price objective on EQT from $62.00 to $59.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.26.

EQT Stock Performance

EQT traded down $0.35 during midday trading on Monday, reaching $49.91. The company had a trading volume of 9,939,406 shares, compared to its average volume of 11,319,877. The business has a 50-day moving average of $56.27 and a two-hundred day moving average of $54.42. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 1 year low of $43.57 and a 1 year high of $62.23. The company has a market cap of $31.15 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.30 and a beta of 0.68.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm’s revenue was up 52.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. As a group, equities research analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the transaction, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of the company. Sound Shore Management Inc CT grew its holdings in shares of EQT by 31.8% in the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock valued at $83,105,000 after purchasing an additional 368,748 shares in the last quarter. Sound Shore Management Inc CT bought a new position in EQT during the second quarter valued at $67,539,000. Rhumbline Advisers grew its stake in shares of EQT by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock worth $60,325,000 after buying an additional 49,714 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in shares of EQT by 213.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after buying an additional 700,732 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of EQT by 1,286.2% in the 2nd quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock worth $42,920,000 after buying an additional 682,844 shares during the last quarter. 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.