EQT Corp [NYSE: EQT] stock went on a downward path that fall over -1.05% on Wednesday, amounting to a one-week price increase of more than 2.76%. The company report on March 4, 2024 at 5:00 AM that EQT Announces Strategic Production Curtailment.
EQT Corporation (NYSE: EQT) (“EQT” or the “Company”) today announced it made the strategic decision to curtail approximately 1 Bcf per day of gross production beginning in late February in response to the current low natural gas price environment resulting from warm winter weather and consequent elevated storage inventories. The Company expects to maintain this curtailment through the month of March and will reassess market conditions thereafter. Curtailments are expected to total approximately 30 to 40 Bcf of net production during the first quarter.
Over the last 12 months, EQT stock rose by 14.08%. The one-year EQT Corp stock forecast points to a potential upside of 14.65. The average equity rating for EQT stock is currently 1.77, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $16.56 billion, with 419.90 million shares outstanding and 410.73 million shares in the current float. Compared to the average trading volume of 5.76M shares, EQT stock reached a trading volume of 4344288 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on EQT Corp [EQT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQT shares is $44.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQT stock is a recommendation set at 1.77. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for EQT Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 11, 2023. While these analysts kept the previous recommendation, Bernstein raised their target price to Underperform. The new note on the price target was released on October 11, 2023, representing the official price target for EQT Corp stock.
The Average True Range (ATR) for EQT Corp is set at 1.12, with the Price to Sales ratio for EQT stock in the period of the last 12 months amounting to 3.27. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.18. Price to Free Cash Flow for EQT in the course of the last twelve months was 14.27 with Quick ratio for the last quarter at 0.99.
EQT Stock Performance Analysis:
EQT Corp [EQT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.76. With this latest performance, EQT shares gained by 9.98% in over the last four-week period, additionally sinking by -13.01% over the last 6 months – not to mention a rise of 14.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQT stock in for the last two-week period is set at 58.82, with the RSI for the last a single of trading hit 62.42, and the three-weeks RSI is set at 55.49 for EQT Corp [EQT]. The present Moving Average for the last 50 days of trading for this stock 36.45, while it was recorded at 37.46 for the last single week of trading, and 39.47 for the last 200 days.
Insight into EQT Corp Fundamentals:
EQT Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.99 and a Current Ratio set at 0.99.
EQT Stock EPS
With the latest financial reports released by the company, EQT Corp posted 1.7/share EPS, while the average EPS was predicted by analysts to be reported at 1.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EQT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for EQT Corp go to 22.00%.
EQT Corp [EQT] Institutonal Ownership Details
The top three institutional holders of EQT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EQT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EQT stock with ownership which is approximately 5.8325%.
