EQT (NYSE:EQT) Given New $37.00 Price Target at JPMorgan Chase & Co.

EQT (NYSE:EQT) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $42.00 to $37.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 12.60% from the company’s current price.

EQT has been the subject of several other reports. Citigroup reiterated a “neutral” rating and set a $37.00 price objective on shares of EQT in a research note on Friday, August 23rd. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. Wolfe Research began coverage on EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target for the company. Stephens dropped their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded EQT to a “sell” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.06.

EQT Price Performance

NYSE:EQT traded down $0.02 during trading hours on Thursday, hitting $32.86. 2,515,804 shares of the stock were exchanged, compared to its average volume of 7,069,453. EQT has a 52-week low of $30.02 and a 52-week high of $45.23. The firm’s fifty day moving average price is $33.71 and its 200 day moving average price is $36.60. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $14.51 billion, a P/E ratio of 23.81 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned ($0.17) EPS. EQT’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that EQT will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of EQT in the second quarter valued at $28,000. Private Wealth Management Group LLC acquired a new stake in shares of EQT in the fourth quarter valued at $30,000. Blue Trust Inc. raised its stake in shares of EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in shares of EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of EQT in the fourth quarter valued at $51,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.