JPMorgan Chase & Co. set a $24.00 target price on EQT (NYSE:EQT) in a research report released on Friday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock.
A number of other equities research analysts also recently issued reports on EQT. TheStreet downgraded shares of EQT from a c- rating to a d+ rating in a research report on Tuesday, November 20th. Zacks Investment Research restated a buy rating and set a $35.00 target price on shares of EQT in a research note on Tuesday, November 13th. Citigroup lowered their target price on shares of EQT from $43.00 to $24.00 and set a buy rating on the stock in a research note on Thursday, November 29th. MKM Partners initiated coverage on shares of EQT in a research note on Wednesday. They set a buy rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada set a $27.00 target price on shares of EQT and gave the company a buy rating in a research note on Sunday, November 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. EQT has a consensus rating of Hold and an average target price of $37.07.
Shares of EQT stock traded up $0.42 during mid-day trading on Friday, reaching $18.41. 8,203,584 shares of the company’s stock traded hands, compared to its average volume of 12,048,278. EQT has a 12 month low of $16.29 and a 12 month high of $59.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.50 and a beta of 0.92.
EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. EQT had a negative net margin of 6.86% and a positive return on equity of 3.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.12 EPS. Equities research analysts expect that EQT will post 2.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Wednesday, November 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, November 20th. EQT’s dividend payout ratio (DPR) is 8.16%.
In related news, Director James E. Rohr purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average price of $34.66 per share, for a total transaction of $346,600.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Philip G. Behrman purchased 20,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average price of $16.51 per share, for a total transaction of $330,200.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $330,200. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 94,269 shares of company stock worth $2,311,332. 0.68% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in EQT by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,073,288 shares of the oil and gas producer’s stock worth $1,241,682,000 after purchasing an additional 687,779 shares in the last quarter. BlackRock Inc. lifted its stake in EQT by 2.0% in the 3rd quarter. BlackRock Inc. now owns 18,319,828 shares of the oil and gas producer’s stock worth $810,284,000 after purchasing an additional 354,503 shares in the last quarter. American Century Companies Inc. lifted its stake in EQT by 20.3% in the 3rd quarter. American Century Companies Inc. now owns 5,932,268 shares of the oil and gas producer’s stock worth $262,384,000 after purchasing an additional 1,002,794 shares in the last quarter. Canyon Capital Advisors LLC lifted its stake in EQT by 9.7% in the 3rd quarter. Canyon Capital Advisors LLC now owns 5,888,910 shares of the oil and gas producer’s stock worth $260,466,000 after purchasing an additional 521,200 shares in the last quarter. Finally, Sound Shore Management Inc. CT increased its holdings in shares of EQT by 26.4% in the 3rd quarter. Sound Shore Management Inc. CT now owns 4,070,449 shares of the oil and gas producer’s stock worth $180,036,000 after buying an additional 849,087 shares during the last quarter. Institutional investors and hedge funds own 96.52% of the company’s stock.
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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