Evercore Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

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

Several other analysts have also recently issued reports on EQT. BMO Capital Markets upped their price objective on EQT from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their price target on EQT from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Citigroup cut their target price on EQT from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Roth Mkm reissued a “neutral” rating on shares of EQT in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reduced their target price on EQT from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.38.

EQT Price Performance

EQT stock opened at $60.66 on Monday. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.14 and a beta of 0.70. The firm’s 50-day moving average price is $60.47 and its two-hundred day moving average price is $57.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. EQT has a 12-month low of $44.55 and a 12-month high of $68.24.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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. During the same period in the prior year, the business posted $0.69 earnings per share. EQT’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts predict that EQT will post 3.27 earnings per share for the current year.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $64.49, for a total value of $314,453.24. Following the sale, the executive vice president directly owned 52,953 shares in the company, valued at approximately $3,414,938.97. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lesley Evancho sold 20,000 shares of the business’s 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 sale, the insider owned 184,607 shares in the company, valued at $11,203,798.83. This trade represents a 9.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 61,158 shares of company stock worth $3,742,983. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the company. Sound Shore Management Inc CT lifted its position in shares of EQT by 31.8% during 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 during the last quarter. Reaves W H & Co. Inc. lifted its holdings in EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after buying an additional 132,741 shares in the last quarter. Rhumbline Advisers increased its position in EQT by 4.7% in the third quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock worth $60,325,000 after purchasing an additional 49,714 shares during the period. Whittier Trust Co. lifted its holdings in EQT by 2.3% in the fourth quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock valued at $31,361,000 after buying an additional 13,232 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in EQT by 9.1% in 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 purchasing an additional 48,587 shares during the period. 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.