EQT (NYSE:EQT) Now Covered by Analysts at Sanford C. Bernstein

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

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Truist Financial raised their price objective on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Tuesday, December 3rd. Finally, Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.11.

EQT Stock Performance

EQT opened at $43.33 on Friday. EQT has a 12-month low of $30.02 and a 12-month high of $48.02. 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 has a market capitalization of $25.85 billion, a PE ratio of 51.58 and a beta of 1.14. The firm has a 50 day moving average of $40.22 and a two-hundred day moving average of $37.29.

EQT (NYSE:EQT) last posted 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.30 EPS. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts anticipate that EQT will post 1.36 EPS for the current year.

Insider Buying and Selling at EQT

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 stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in shares of EQT during the 3rd quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of EQT during the 2nd quarter worth $28,000. Truvestments Capital LLC purchased a new position in shares of EQT during the 3rd quarter worth $30,000. Hexagon Capital Partners LLC raised its holdings in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the period. Finally, Quarry LP raised its holdings in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Hedge funds and other 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.