Citigroup Increases EQT (NYSE:EQT) Price Target to $51.00

EQT (NYSE:EQT) had its price target increased by stock analysts at Citigroup from $44.00 to $51.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s target price would suggest a potential upside of 17.70% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Truist Financial upped 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. JPMorgan Chase & Co. upped their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Sanford C. Bernstein initiated coverage on shares of EQT in a research report on Friday. They set a “market perform” rating and a $50.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 target price on shares of EQT in a report on Tuesday, December 3rd. Finally, Mizuho raised their price target on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.11.

EQT Trading Down 2.5 %

Shares of EQT stock opened at $43.33 on Friday. The firm has a market capitalization of $25.85 billion, a PE ratio of 51.58 and a beta of 1.14. 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 firm’s 50 day moving average is $40.22 and its 200 day moving average is $37.29. EQT has a 1 year low of $30.02 and a 1 year high of $48.02.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that EQT will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently made changes to their positions in the stock. HM Payson & Co. bought a new stake in shares of EQT during the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new position in shares of EQT during the 3rd quarter valued at $30,000. Hexagon Capital Partners LLC lifted its holdings in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the last quarter. Finally, Quarry LP boosted its holdings in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares during the period. Institutional investors own 90.81% of the company’s stock.

About EQT

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.