EQT (NYSE:EQT) Price Target Lowered to $63.00 at The Goldman Sachs Group

EQT (NYSE:EQT) had its price objective dropped by stock analysts at The Goldman Sachs Group from $65.00 to $63.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 19.13% from the stock’s current price.

Other analysts have also issued research reports about the company. Zacks Research lowered EQT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their target price on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 23rd. UBS Group reduced their target price on shares of EQT from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Capital One Financial increased their target price on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Stephens reduced their price objective on EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.96.

EQT Price Performance

EQT stock opened at $52.88 on Tuesday. EQT has a twelve month low of $48.47 and a twelve month high of $68.24. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $33.08 billion, a P/E ratio of 10.03 and a beta of 0.55. The business has a 50 day simple moving average of $55.34 and a 200-day simple moving average of $56.93.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm posted $1.18 EPS. As a group, equities analysts anticipate that EQT will post 4.52 EPS for the current year.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 4,116 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Toby Z. Rice sold 96,983 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the sale, the chief executive officer owned 2,334,924 shares of the company’s stock, valued at approximately $126,739,674.72. This represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 102,830 shares of company stock worth $5,602,913 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Reaves W H & Co. Inc. boosted its position in shares of EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of EQT by 21.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock valued at $9,988,000 after purchasing an additional 32,921 shares during the period. BOKF NA raised its stake in EQT by 25.9% during the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock worth $7,417,000 after acquiring an additional 28,427 shares in the last quarter. Allstate Corp lifted its holdings in shares of EQT by 114.0% during the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock valued at $2,601,000 after acquiring an additional 25,852 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of EQT in the 4th quarter valued at $1,099,000. Institutional investors own 90.81% of the company’s stock.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.