Citigroup Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT - Get Free Report) had its price target hoisted by equities researchers at Citigroup from $44.00 to $51.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. Citigroup's price target indicates a potential upside of 17.43% from the company's previous close.

Several other equities analysts also recently commented on EQT. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $49.00 price objective on shares of EQT in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of EQT from $42.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, September 26th. Finally, Sanford C. Bernstein started coverage on EQT in a research report on Friday. They set a "market perform" rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $46.11.

EQT Stock Performance

Shares of NYSE:EQT traded down $1.02 during trading on Friday, hitting $43.43. The company's stock had a trading volume of 3,808,295 shares, compared to its average volume of 7,151,411. The company has a 50-day moving average of $40.08 and a 200-day moving average of $37.31. EQT has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $25.91 billion, a price-to-earnings ratio of 51.73 and a beta of 1.14.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.30 EPS. The company's revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that EQT will post 1.36 earnings per share for the current year.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the company'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 value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.63% of the company's stock.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer's stock valued at $183,678,000 after buying an additional 1,108,134 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of EQT in the first quarter valued at approximately $2,274,000. Swiss National Bank boosted its holdings in shares of EQT by 35.3% in 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 acquiring an additional 437,602 shares in the last quarter. Castle Hook Partners LP acquired a new stake in EQT during the 3rd quarter valued at $48,817,000. Finally, Janney Montgomery Scott LLC raised its position in EQT by 71.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer's stock valued at $7,883,000 after purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.