EQT (NYSE:EQT) Price Target Cut to $77.00 by Analysts at Freedom Broker

Key Points

• Freedom Broker cut EQT’s price target to $77 from $81 but maintained a “buy” rating, implying approximately 36.8% upside from the $56.27 share price.
• EQT’s third-quarter earnings of $0.42 per share exceeded the $0.37 consensus estimate, while revenue of $1.77 billion slightly topped forecasts; however, revenue declined 9.6% year over year and earnings fell from $0.52 per share.
• Analyst sentiment remains broadly positive, with EQT holding a “Moderate Buy” consensus rating and an average price target of $67.78. The company’s proposed $13 billion all-stock acquisition of Range Resources could create scale and cost synergies, but integration and execution risks remain.

EQT (NYSE:EQT - Get Free Report) had its price objective lowered by Freedom Broker from $81.00 to $77.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. Freedom Broker's target price would suggest a potential upside of 36.83% from the company's current price.

Other equities analysts have also issued research reports about the company. Zacks Research upgraded EQT from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. Scotiabank lowered their price target on EQT from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Jefferies Financial Group dropped their price objective on EQT from $75.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, September 29th. The Goldman Sachs Group restated a "buy" rating on shares of EQT in a research report on Tuesday, October 20th. Finally, Freedom Capital raised EQT to a "strong-buy" rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and an average target price of $67.78.

EQT Stock Performance

EQT stock traded up $0.00 during mid-day trading on Wednesday, hitting $56.27. The company had a trading volume of 16,577,681 shares, compared to its average volume of 8,337,150. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT has a 12-month low of $47.94 and a 12-month high of $68.24. The company's fifty day moving average is $53.09 and its 200-day moving average is $55.44. The company has a market capitalization of $35.20 billion, a price-to-earnings ratio of 13.06 and a beta of 0.66.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, October 27th. The oil and gas producer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that EQT will post 3.91 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Toby Rice sold 175,328 shares of EQT stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On EQT

Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in shares of EQT by 162.2% in the third quarter. D.A. Davidson & CO. now owns 12,157 shares of the oil and gas producer's stock valued at $590,000 after acquiring an additional 7,520 shares in the last quarter. Motley Fool Asset Management LLC increased its position in shares of EQT by 8.3% during the third quarter. Motley Fool Asset Management LLC now owns 13,451 shares of the oil and gas producer's stock worth $653,000 after purchasing an additional 1,030 shares in the last quarter. North Dakota State Investment Board increased its position in shares of EQT by 3.1% during the third quarter. North Dakota State Investment Board now owns 18,476 shares of the oil and gas producer's stock worth $897,000 after purchasing an additional 560 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of EQT during the third quarter worth approximately $629,000. Finally, Asset Management One Co. Ltd. raised its stake in EQT by 3.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 260,236 shares of the oil and gas producer's stock valued at $12,637,000 after purchasing an additional 8,291 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Scale and cost-savings potential: EQT agreed to acquire Range Resources in an all-stock transaction valued at approximately $13 billion. Management expects the combination to create a leading U.S. natural-gas company, generate operational efficiencies and strengthen free cash flow. The deal also positions EQT to benefit from rising demand tied to data centers, LNG exports and power generation. EQT to Acquire Range Resources, Create a Leading Natural Gas Company
• Positive Sentiment: Third-quarter earnings beat expectations: EQT reported adjusted earnings of $0.42 per share, above the roughly $0.37-$0.38 consensus estimate, as lower operating costs helped offset reduced gas volumes. Revenue of $1.77 billion was slightly above the $1.76 billion consensus forecast. EQT Q3 Earnings Beat Estimates on Lower Operating Costs, Revenues Miss
• Neutral Sentiment: Strategic rationale is favorable, but execution matters: The merger would create a larger natural-gas platform and potentially improve competitiveness, but investors will assess integration progress, commodity prices, financing implications and whether projected synergies materialize.
• Negative Sentiment: Underlying results weakened year over year: Revenue declined 9.6% from the prior-year quarter, earnings fell from $0.52 per share, and operating volumes and cash flow were lower. These trends may temper the benefit of the quarterly beat. Expand Energy tops estimates as output rises; EQT earnings decline
• Negative Sentiment: Analyst target cuts and deal risk add pressure: Scotiabank reduced its target to $53 from $54 with a “sector perform” rating, while Wells Fargo cut its target to $71 from $79 but retained an “overweight” rating. EQT would also owe a $1.148 billion reverse termination fee if the Range transaction fails under specified conditions.

EQT Company Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT's operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.

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