Wells Fargo & Company Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective lifted by Wells Fargo & Company from $52.00 to $53.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Truist Financial boosted their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Jefferies Financial Group lifted their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com upgraded EQT to a “sell” rating in a report on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

EQT Trading Up 1.7 %

EQT stock opened at $48.97 on Wednesday. EQT has a 12-month low of $30.02 and a 12-month high of $49.20. The business’s 50-day moving average is $44.05 and its 200 day moving average is $38.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.14.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, sell-side analysts anticipate that EQT will post 1.37 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several large investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP grew its stake in shares of EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. State Street Corp increased its holdings in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Modera Wealth Management LLC acquired a new stake in EQT in the 3rd quarter valued at about $562,494,000. Geode Capital Management LLC boosted its stake in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.