EQT (NYSE:EQT) Price Target Cut to $53.00 by Analysts at Scotiabank

EQT (NYSE:EQT) had its target price decreased by analysts at Scotiabank from $54.00 to $53.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank‘s target price points to a potential downside of 4.52% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Freedom Capital upgraded EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Stifel Nicolaus started coverage on EQT in a research report on Wednesday, September 9th. They set a “buy” rating and a $66.00 price objective for the company. UBS Group set a $75.00 price objective on EQT in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on EQT from $79.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $67.18.

EQT Stock Performance

NYSE EQT traded up $0.66 during trading hours on Tuesday, reaching $55.51. The company’s stock had a trading volume of 4,068,677 shares, compared to its average volume of 8,232,075. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $53.02 and a 200 day simple moving average of $55.42. EQT has a 52 week low of $47.94 and a 52 week high of $68.24. The stock has a market cap of $34.72 billion, a PE ratio of 12.88 and a beta of 0.66.

Insider Buying and Selling at EQT

In other news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

Several large investors have recently added to or reduced their stakes in the business. Independence Bank of Kentucky raised its stake in EQT by 1.7% during the 3rd quarter. Independence Bank of Kentucky now owns 21,083 shares of the oil and gas producer’s stock valued at $1,024,000 after acquiring an additional 356 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of EQT by 77.7% in the third quarter. Park Avenue Securities LLC now owns 35,945 shares of the oil and gas producer’s stock worth $1,746,000 after purchasing an additional 15,720 shares in the last quarter. Sunesis Advisors LLC bought a new position in shares of EQT in the third quarter worth $211,000. Blume Capital Management Inc. grew its stake in shares of EQT by 62.9% in the third quarter. Blume Capital Management Inc. now owns 27,668 shares of the oil and gas producer’s stock worth $1,344,000 after purchasing an additional 10,683 shares in the last quarter. Finally, Corecam Pte. Ltd. increased its holdings in shares of EQT by 7.3% during the third quarter. Corecam Pte. Ltd. now owns 6,870 shares of the oil and gas producer’s stock valued at $334,000 after purchasing an additional 470 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT News Roundup

Here are the key news stories impacting EQT this week:

• Positive Sentiment: All-stock Range Resources acquisition expands scale: EQT agreed to acquire Range Resources in a transaction valued at approximately $50 billion on a pro forma basis, creating a dominant Appalachian natural-gas producer. Management expects greater scale and a free-cash-flow breakeven below $2 per MMBtu. EQT Announces All-Stock Acquisition of Range Resources with $50 Billion Valuation
• Positive Sentiment: Exposure to rising gas demand: Coverage highlights expected growth in electricity consumption from data centers and artificial-intelligence infrastructure, as well as export demand. The combined company could be better positioned to benefit from stronger U.S. natural-gas prices and volumes. EQT Is Building a $50 Billion Natural Gas Giant as AI Power Demand Surges
• Positive Sentiment: Wells Fargo remains bullish: Wells Fargo lowered its EQT price target from $79 to $71 but maintained an “overweight” rating, implying substantial upside from recent trading levels. The reduced target may reflect more cautious valuation assumptions rather than a change in its overall investment view.
• Neutral Sentiment: Market reaction is mixed: Range Resources rallied sharply following the announcement, while EQT investors are weighing the strategic advantages against the implications of issuing stock and integrating a major acquisition. Range Resources Soars on EQT’s All-Stock Takeover
• Negative Sentiment: Technical weakness remains a concern: EQT recently moved below its 200-day moving average, a bearish technical signal that could limit near-term momentum despite the merger-related growth case. EQT Stock Crosses Below 200-Day Moving Average

EQT Company Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.