EQT (NYSE:EQT) Shares Gap Up to $19.99

EQT Co. (NYSE:EQT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $19.99, but opened at $20.74. EQT shares last traded at $21.64, with a volume of 47,969 shares trading hands.

Several brokerages recently commented on EQT. Mizuho cut their target price on EQT from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, August 13th. Citigroup started coverage on EQT in a research report on Monday, August 30th. They set a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Company increased their price target on EQT from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 23rd. Morgan Stanley lowered EQT from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $24.00 in a report on Friday, June 18th. Finally, Credit Suisse Group cut their price target on EQT from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $23.43.

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $18.86 and a 200-day simple moving average of $19.60. The firm has a market capitalization of $6.03 billion, a PE ratio of -3.85, a P/E/G ratio of 1.43 and a beta of 1.28.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 27th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. The business had revenue of $996.88 million during the quarter, compared to the consensus estimate of $1 billion. EQT had a positive return on equity of 0.67% and a negative net margin of 28.97%. Equities analysts forecast that EQT Co. will post 0.48 earnings per share for the current fiscal year.

In related news, CEO Toby Z. Rice purchased 28,000 shares of EQT stock in a transaction dated Monday, August 2nd. The stock was bought at an average cost of $17.83 per share, for a total transaction of $499,240.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of EQT. Xponance Inc. lifted its stake in EQT by 1.7% during the first quarter. Xponance Inc. now owns 29,324 shares of the oil and gas producer’s stock worth $545,000 after purchasing an additional 479 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in EQT by 11.5% during the second quarter. Rockefeller Capital Management L.P. now owns 5,529 shares of the oil and gas producer’s stock worth $122,000 after purchasing an additional 571 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in EQT by 3.0% during the first quarter. Duff & Phelps Investment Management Co. now owns 23,700 shares of the oil and gas producer’s stock worth $440,000 after purchasing an additional 700 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of EQT by 9.7% in the second quarter. Advisors Asset Management Inc. now owns 9,362 shares of the oil and gas producer’s stock worth $208,000 after buying an additional 824 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of EQT by 1.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 93,028 shares of the oil and gas producer’s stock worth $1,728,000 after buying an additional 996 shares during the period. 97.58% of the stock is owned by institutional investors.

About EQT (NYSE:EQT)

EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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