EQT Corporation (NYSE:EQT) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, June 20th, MarketBeat.com reports. The firm currently has a $70.00 price objective on the oil and gas producer’s stock. BMO Capital Markets’ target price points to a potential upside of 11.96% from the company’s previous close.
A number of other research analysts have also commented on EQT. Jefferies Group LLC set a $69.00 price objective on EQT Corporation and gave the company a “hold” rating in a report on Saturday, March 4th. Zacks Investment Research lowered EQT Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, March 7th. Tudor Pickering raised EQT Corporation from a “hold” rating to a “buy” rating in a report on Monday, March 13th. Scotiabank set a $84.00 target price on EQT Corporation and gave the company a “hold” rating in a report on Monday, March 20th. Finally, Stifel Nicolaus started coverage on EQT Corporation in a research report on Thursday, March 23rd. They issued a “buy” rating and a $63.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. EQT Corporation has an average rating of “Buy” and an average price target of $80.43.
Shares of EQT Corporation (EQT) traded up 2.24% during mid-day trading on Tuesday, reaching $62.52. 3,870,685 shares of the company’s stock traded hands. EQT Corporation has a one year low of $49.63 and a one year high of $76.22. The firm’s market cap is $10.84 billion. The firm’s 50-day moving average is $57.37 and its 200 day moving average is $59.80.
EQT Corporation (NYSE:EQT) last issued its quarterly earnings data on Thursday, April 27th. The oil and gas producer reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $897.50 million for the quarter, compared to analyst estimates of $713.65 million. EQT Corporation had a negative net margin of 15.03% and a positive return on equity of 0.18%. The business’s revenue was up 64.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. Analysts predict that EQT Corporation will post $1.21 earnings per share for the current year.
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In related news, Director A. Bray Jr. Cary bought 28,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average price of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven T. Schlotterbeck purchased 2,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of $52.14 per share, for a total transaction of $104,280.00. Following the transaction, the chief executive officer now owns 115,178 shares of the company’s stock, valued at $6,005,380.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 41,901 shares of company stock worth $2,211,775. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. South Dakota Investment Council purchased a new position in EQT Corporation during the first quarter valued at approximately $354,000. Knights of Columbus Asset Advisors LLC bought a new stake in shares of EQT Corporation during the first quarter worth about $760,000. BlackRock Inc. increased its stake in shares of EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after buying an additional 13,231,032 shares in the last quarter. Twin Capital Management Inc. bought a new stake in shares of EQT Corporation during the first quarter worth about $2,598,000. Finally, Swiss National Bank increased its stake in shares of EQT Corporation by 21.4% in the first quarter. Swiss National Bank now owns 805,236 shares of the oil and gas producer’s stock worth $49,200,000 after buying an additional 141,800 shares in the last quarter. 90.65% of the stock is currently owned by institutional investors.
EQT Corporation Company Profile
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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