Citigroup Raises EQT Stock Price Target to $51

On Friday, Citigroup announced an increase in the price target for EQT (NYSE:EQT) from $44.00 to $51.00. This adjustment comes with a "buy" rating for the oil and gas producer. The new target suggests that investors could see a potential upside of approximately 17.43% based on EQT's closing price prior to the announcement.

Overview of Analyst Ratings on EQT

Other analysts have also weighed in on EQT recently. The Royal Bank of Canada maintained a "sector perform" rating and set a price target of $49.00. Wells Fargo & Company raised their target significantly from $42.00 to $52.00 and assigned an "overweight" rating for the stock. Similarly, Stephens adjusted their target from $37.00 to $38.00, while JPMorgan Chase & Co. increased their target from $37.00 to $39.00, both maintaining an "overweight" rating. Additionally, Sanford C. Bernstein began coverage and set a target price of $50.00, rating the stock as "market perform." Overall, while there is one sell rating, eight hold ratings, and ten buy ratings from analysts, the consensus suggests a moderate interest in EQT, with an average target price of $46.11.

Current Stock Performance

On the day following the announcement, EQT's stock experienced a decline of $1.02, bringing its price to $43.43 per share. The trading volume was about 3.8 million shares, less than the average of 7.2 million shares. The shares have fluctuated between a 12-month low of $30.02 and a high of $48.02. The company's financial health is represented by a debt-to-equity ratio of 0.65 and current and quick ratios both at 0.51. EQT has a market capitalization of $25.91 billion and a price-to-earnings ratio of 51.73.

Insight into Earnings

The latest quarterly earnings report from EQT revealed an earnings per share (EPS) of $0.12, surpassing analysts' expectations of $0.06. Although the company experienced an 8.2% year-over-year revenue increase, reporting $1.28 billion in revenue for the quarter, it was still below analyst predictions of $1.35 billion. Analysts forecast an EPS of 1.36 for the current year.

Insider Trading Activity

Recently, EQT's Director Thomas F. Karam sold 30,154 shares of EQT on December 3rd, for a total value of approximately $1.35 million. Following this transaction, Karam holds about 201,608 shares valued at about $9 million. This represents a reduction of about 13.01% in his holdings. The ownership of company shares by insiders currently stands at around 0.63%.

Institutional Investment Trends

Institutional investors have been active with EQT stocks. For instance, Charles Schwab Investment Management increased its EQT holdings by 28.4%, owning over 5 million shares valued at approximately $183.7 million. Additionally, Swiss National Bank boosted its stake by 35.3% during the same period. Overall, institutional and hedge fund ownership makes up 90.81% of the company's stock.

About EQT Corporation

EQT Corporation is engaged in natural gas production in the United States, focusing on the Appalachian Basin. The company sells natural gas and natural gas liquids to various customers while also offering marketing services.

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