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

Research analysts at Sanford C. Bernstein initiated coverage on shares of EQT (NYSE:EQT) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set a “market perform” rating and a $50.00 price target on the oil and gas producer’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 12.49% from the stock’s current price.

Several other brokerages have also weighed in on EQT. Piper Sandler raised their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. Mizuho boosted their target price on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group lifted their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.72.

EQT Trading Down 0.5 %

EQT stock opened at $44.45 on Friday. EQT has a 1 year low of $30.02 and a 1 year high of $48.02. The firm’s 50-day moving average is $40.08 and its 200-day moving average is $37.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $26.52 billion, a P/E ratio of 52.92 and a beta of 1.14.

EQT (NYSE:EQT) last issued its 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. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities analysts expect that EQT will post 1.36 earnings per share for the current year.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of EQT by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after acquiring an additional 1,108,134 shares during the last quarter. Cetera Investment Advisers acquired a new position in EQT in the 1st quarter worth about $2,274,000. Swiss National Bank raised its stake in shares of EQT by 35.3% during the 3rd quarter. Swiss National Bank now owns 1,677,261 shares of the oil and gas producer’s stock worth $61,455,000 after purchasing an additional 437,602 shares in the last quarter. Castle Hook Partners LP bought a new stake in shares of EQT in the 3rd quarter valued at approximately $48,817,000. Finally, Janney Montgomery Scott LLC increased its holdings in EQT by 71.7% in the third quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock worth $7,883,000 after buying an additional 89,866 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.