UBS Group Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective hoisted by equities researchers at UBS Group from $49.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective indicates a potential upside of 0.96% from the company’s previous close.

Several other analysts also recently commented on the company. Bank of America started coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group increased their price objective on EQT from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $51.89.

EQT Stock Performance

Shares of EQT stock opened at $53.49 on Thursday. The company has a market cap of $31.91 billion, a PE ratio of 63.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. EQT has a 52 week low of $30.02 and a 52 week high of $54.85. The business has a 50 day moving average price of $48.64 and a 200-day moving average price of $40.89. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in EQT. HM Payson & Co. purchased a new stake in shares of EQT in the third quarter worth $25,000. Truvestments Capital LLC purchased a new stake in EQT during the third quarter valued at about $30,000. Quarry LP raised its position in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in EQT during the third quarter valued at about $36,000. Finally, Financial Avengers Inc. raised its position in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.