Barclays Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price reduced by equities researchers at Barclays from $67.00 to $64.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price target indicates a potential upside of 18.26% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets lowered their price objective on shares of EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. UBS Group boosted their price target on EQT from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. lifted their target price on EQT from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Jefferies Financial Group reiterated a “buy” rating on shares of EQT in a research report on Sunday. Finally, Piper Sandler raised their price target on shares of EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.96.

EQT Stock Up 5.1%

NYSE EQT traded up $2.64 during midday trading on Wednesday, hitting $54.12. 3,754,383 shares of the company traded hands, compared to its average volume of 11,683,086. EQT has a 52 week low of $43.57 and a 52 week high of $62.23. The company’s 50-day simple moving average is $55.64 and its 200-day simple moving average is $54.25. The company has a market cap of $33.77 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 0.38 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58.

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

Insider Buying and Selling

In related news, EVP J.E.B. Bolen sold 1,422 shares of EQT 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 transaction, the executive vice president owned 69,486 shares in the company, valued at approximately $3,668,165.94. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in EQT. Aventura Private Wealth LLC acquired a new position in EQT in the 4th quarter valued at about $31,000. Fortitude Family Office LLC lifted its position in shares of EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in EQT in the second quarter valued at $41,000. Anchor Investment Management LLC lifted its holdings in EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.