EQT Co. (NYSE:EQT – Get Rating) – Equities researchers at Capital One Financial issued their Q1 2023 earnings estimates for EQT in a note issued to investors on Thursday, October 13th. Capital One Financial analyst B. Velie anticipates that the oil and gas producer will earn $2.29 per share for the quarter. The consensus estimate for EQT’s current full-year earnings is $4.26 per share. Capital One Financial also issued estimates for EQT’s Q2 2023 earnings at $2.05 EPS, Q3 2023 earnings at $2.15 EPS, Q4 2023 earnings at $2.39 EPS and FY2024 earnings at $9.45 EPS.
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EQT (NYSE:EQT – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. The firm’s revenue for the quarter was up 61.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS.
A number of other research firms have also recently commented on EQT. Mizuho upped their price target on shares of EQT from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. The Goldman Sachs Group raised their target price on shares of EQT from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. BMO Capital Markets upgraded EQT from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $65.00 in a report on Monday, September 19th. Credit Suisse Group raised their price objective on EQT from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Finally, Wells Fargo & Company upped their target price on EQT from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.00.
EQT Price Performance
Shares of EQT stock opened at $41.81 on Monday. The stock has a 50 day moving average price of $45.50 and a 200 day moving average price of $42.41. EQT has a 52-week low of $17.95 and a 52-week high of $51.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $15.45 billion, a P/E ratio of -15.37, a P/E/G ratio of 0.17 and a beta of 1.15.
Institutional Trading of EQT
Several large investors have recently bought and sold shares of EQT. Counterpoint Mutual Funds LLC acquired a new stake in shares of EQT during the first quarter worth $25,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of EQT during the first quarter worth about $31,000. Kathleen S. Wright Associates Inc. purchased a new stake in EQT in the second quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new position in EQT in the 1st quarter worth approximately $41,000. Finally, Allworth Financial LP raised its position in EQT by 925.2% during the 3rd quarter. Allworth Financial LP now owns 1,261 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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