Jefferies Financial Group Lowers EQT (NYSE:EQT) Price Target to $68.00

Key Points

• Jefferies Financial Group has reduced its price target for EQT from $70.00 to $68.00, while maintaining a "buy" rating.
• Analysts currently have a consensus rating of "Moderate Buy" on EQT, with an average price target of $62.95.
• EQT recently reported earnings of $0.45 per share, which missed analysts' expectations of $0.52 per share for the quarter.

EQT (NYSE:EQT - Get Free Report) had its price objective reduced by investment analysts at Jefferies Financial Group from $70.00 to $68.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. Jefferies Financial Group's price objective suggests a potential upside of 21.11% from the stock's previous close.

Several other research firms have also recently weighed in on EQT. Melius began coverage on EQT in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective on the stock. Morgan Stanley restated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. UBS Group lifted their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Barclays increased their target price on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler increased their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average price target of $62.95.

EQT Stock Performance

Shares of EQT stock opened at $56.15 on Thursday. The firm has a 50-day moving average of $51.87 and a 200-day moving average of $53.36. The company has a market cap of $35.04 billion, a P/E ratio of 30.35, a P/E/G ratio of 0.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT has a one year low of $35.44 and a one year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company posted ($0.08) earnings per share. Equities research analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT bought a new position in shares of EQT in the first quarter valued at approximately $35,000. Harbour Investments Inc. lifted its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 226 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in EQT in the 2nd quarter valued at $41,000. Anchor Investment Management LLC grew its position in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 500 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of EQT by 38.1% in the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer's stock worth $60,000 after purchasing an additional 283 shares during the period. 90.81% of the stock is currently owned by institutional investors.

About EQT

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.

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