EQT (NYSE:EQT) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of EQT (NYSE:EQT) in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $49.00 price objective on the oil and gas producer’s stock.

EQT has been the topic of a number of other research reports. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Truist Financial raised their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Bank of America started coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. BMO Capital Markets raised their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company raised their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Price Performance

Shares of NYSE EQT opened at $48.97 on Monday. The firm has a 50-day moving average of $44.05 and a two-hundred day moving average of $38.12. The company has a market capitalization of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a twelve month low of $30.02 and a twelve month high of $49.20.

EQT (NYSE:EQT) last announced 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 company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently made changes to their positions in EQT. National Bank of Canada FI boosted its stake in EQT by 33.6% during the 2nd quarter. National Bank of Canada FI now owns 121,231 shares of the oil and gas producer’s stock valued at $4,448,000 after purchasing an additional 30,492 shares during the period. Victory Capital Management Inc. boosted its position in shares of EQT by 26.4% in the second quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock valued at $8,624,000 after acquiring an additional 48,741 shares during the period. Arizona State Retirement System grew its stake in shares of EQT by 7.0% in the second quarter. Arizona State Retirement System now owns 115,011 shares of the oil and gas producer’s stock worth $4,253,000 after acquiring an additional 7,532 shares during the last quarter. Candriam S.C.A. increased its position in EQT by 9.7% during the second quarter. Candriam S.C.A. now owns 27,869 shares of the oil and gas producer’s stock worth $1,031,000 after acquiring an additional 2,459 shares during the period. Finally, Savant Capital LLC raised its stake in EQT by 940.4% during the 2nd quarter. Savant Capital LLC now owns 60,654 shares of the oil and gas producer’s stock valued at $2,243,000 after purchasing an additional 54,824 shares during the last quarter. 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.