JPMorgan Chase & Co. Raises EQT (NYSE:EQT) Price Target to $53.00

EQT (NYSE:EQT) had its price target hoisted by analysts at JPMorgan Chase & Co. from $50.00 to $53.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.93% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. UBS Group raised their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Stephens upped their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of EQT in a research report on Friday, December 6th. They set a “market perform” rating and a $50.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.39.

EQT Trading Up 2.7 %

Shares of EQT stock opened at $47.35 on Friday. The stock has a market capitalization of $28.25 billion, a PE ratio of 56.37 and a beta of 1.14. EQT has a 52 week low of $30.02 and a 52 week high of $48.02. The stock has a 50 day moving average price of $43.22 and a two-hundred day moving average price of $37.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that EQT will post 1.37 earnings per share for the current fiscal year.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Davis Investment Partners LLC grew its holdings in shares of EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after purchasing an additional 317 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of EQT by 7.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 421 shares during the last quarter. Ballentine Partners LLC raised its position in shares of EQT by 8.4% during the 2nd quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 486 shares in the last quarter. Financial Avengers Inc. lifted its holdings in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares during the last quarter. Finally, Quarry LP grew its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares in the last quarter. 90.81% of the stock is owned by 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.