EQT stock icon

EQT Corp
EQT

$35.05
1.04%

Market Cap: 15.5B

 

About: EQT Corp is an independent natural gas production company with operations focused in the cores of the Marcellus and Utica shales in the Appalachian Basin, located in the Eastern United States. The firm focuses on executing combo-development projects for developing multiwell pads to meet supply needs, with a focus on maximizing operational efficiency, technology, and sustainability. Its main customers include marketers, utilities, and industrial operators in the Appalachian Basin. The company has one reportable segment and its revenue stems from three types of gas reserves: natural gas, natural gas liquids, and crude oil. All of the firm's operating revenue is generated in the U.S., with most revenue flowing from the Marcellus Shale field and through the sale of natural gas.

Employees: 881

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 34 analysts
0
News positive %
of 17 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

8% more repeat investments, than reductions

Existing positions increased: 227 | Existing positions reduced: 211

0% more capital invested

Capital invested by funds: $15.4B [Q4 2023] → $15.5B (+$58.9M) [Q1 2024]

1% less funds holding

Funds holding: 636 [Q4 2023] → 630 (-6) [Q1 2024]

6% less first-time investments, than exits

New positions opened: 95 | Existing positions closed: 101

2.2% less ownership

Funds ownership: 97.12% [Q4 2023] → 94.92% (-2.2%) [Q1 2024]

8% less funds holding in top 10

Funds holding in top 10: 12 [Q4 2023] → 11 (-1) [Q1 2024]

28% less call options, than puts

Call options by funds: $235M | Put options by funds: $326M

Research analyst outlook

34 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$27
23%
downside
Avg. target
$43
23%
upside
High target
$60
71%
upside

34 analyst ratings

19 positive
56%
14 neutral
41%
negative
3%
JP Morgan
Arun Jayaram
20%upside
$42
Overweight
Upgraded
23 Jul 2024
Truist Securities
Neal Dingmann
9%downside
$32
Hold
Maintained
22 Jul 2024
Piper Sandler
Mark Lear
34%upside
$47
Overweight
Maintained
18 Jul 2024
Scotiabank
Cameron Bean
57%upside
$55
Sector Outperform
Maintained
12 Jul 2024
Jefferies
Lloyd Byrne
37%upside
$48
Buy
Maintained
4 Jun 2024

Financial journalist opinion

Based on 17 articles about EQT published over the past 30 days

Neutral
PRNewsWire
3 hours ago
EQT Reports Second Quarter 2024 Results
PITTSBURGH , July 23, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced financial and operational results for the second quarter of 2024. Second Quarter  2024 and Recent Highlights: Closed the acquisition of Equitrans Midstream Corporation (Equitrans) a full quarter ahead of plan, resulting in approximately $150 million of savings relative to initial expectations; accelerates synergy capture and the commencement of deleveraging plan Sales volume of 508 Bcfe, above the high-end of guidance driven by continued operational efficiency gains and strong well performance Capital expenditures of $576 million, below the midpoint of guidance despite faster activity pace; recent developments show a step change improvement in completion efficiency with potential for structurally lower well costs Total per unit operating costs of $1.40 per Mcfe, below the low-end of guidance driven by lower-than-expected LOE and SG&A expense Higher-than-expected southeast gas prices via Mountain Valley Pipeline capacity drove second quarter differential towards the low-end of guidance Total debt and net debt(1) down from $5.8 billion and $5.7 billion at year-end 2023 to $5.0 billion and $4.9 billion, respectively, at quarter-end Retired approximately $600 million of 2025 senior notes with proceeds from partial non-operated asset monetization; marketing remaining 60% interest in northeast Pennsylvania non-operated assets Increased revolving credit facility lender commitments from $2.5 billion to $3.5 billion Converted non-binding Heads of Agreement with Glenfarne Energy Transition's Texas LNG to binding Liquefaction Tolling Services Agreement for 2 million tonnes per annum of liquefaction tolling capacity Released 2023 ESG report highlighting successful achievement of GHG emission intensity and methane emission intensity targets one year ahead of schedule; on track to achieve net zero by 2025(2) President and CEO Toby Z.
EQT Reports Second Quarter 2024 Results