Sanford C. Bernstein Initiates Coverage on EQT (NYSE:EQT)

Research analysts at Sanford C. Bernstein initiated coverage on shares of EQT (NYSE:EQT) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a “market perform” rating and a $50.00 price target on the oil and gas producer’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 15.39% from the company’s current price.

A number of other research analysts have also recently weighed in on EQT. Piper Sandler boosted their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial upped their price target on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.11.

EQT Trading Down 2.5 %

EQT stock opened at $43.33 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a twelve month low of $30.02 and a twelve month high of $48.02. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 51.58 and a beta of 1.14. The firm’s fifty day simple moving average is $40.22 and its two-hundred day simple moving average is $37.29.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating 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 business 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 business posted $0.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that EQT will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other EQT 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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of EQT. HM Payson & Co. purchased a new stake in shares of EQT during the third quarter valued at about $25,000. Innealta Capital LLC purchased a new position in shares of EQT in the 2nd quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new position in shares of EQT in the 3rd quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its position in shares of EQT by 18,080.0% in the 3rd 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 raised its position in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.