EQT (NYSE:EQT) Given New $66.00 Price Target at The Goldman Sachs Group

EQT (NYSE:EQT - Get Free Report) had its price objective raised by equities researchers at The Goldman Sachs Group from $59.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. The Goldman Sachs Group's price objective indicates a potential upside of 23.40% from the company's previous close.

Several other research firms also recently commented on EQT. UBS Group lifted their target price on shares of EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. StockNews.com raised shares of EQT to a "sell" rating in a research report on Saturday, February 8th. Royal Bank of Canada restated a "sector perform" rating and set a $49.00 price target on shares of EQT in a report on Monday, January 6th. Scotiabank downgraded shares of EQT from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Finally, Piper Sandler upped their price target on EQT from $34.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, EQT presently has an average rating of "Moderate Buy" and a consensus price target of $51.89.

EQT Price Performance

EQT stock traded up $0.62 during midday trading on Wednesday, reaching $53.49. The company had a trading volume of 5,552,108 shares, compared to its average volume of 7,823,351. EQT has a 1-year low of $30.02 and a 1-year high of $54.85. The company has a market capitalization of $31.91 billion, a price-to-earnings ratio of 63.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. 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 stock has a 50 day moving average price of $48.85 and a 200-day moving average price of $41.07.

Insider Buying and Selling

In related 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 transaction of $1,351,803.82. Following the completion of the sale, the director now 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 legal filing with the SEC, which is available at this link. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Sanctuary Advisors LLC grew its position in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer's stock valued at $2,327,000 after acquiring an additional 32,484 shares during the period. Retirement Systems of Alabama lifted its stake in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock worth $4,878,000 after acquiring an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock worth $2,379,000 after buying an additional 16,416 shares during the period. FMR LLC boosted its holdings in EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer's stock valued at $41,520,000 after purchasing an additional 28,129 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after buying an additional 5,489 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.