EQT Corporation (EQT), with a market cap of $31.6 billion, engages in the production, gathering, and transmission of natural gas. Founded in 1888, the Pittsburgh, Pennsylvania-based company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers located in the Appalachian Basin.
Companies worth $10 billion or more are generally described as "large-cap stocks," EQT Corporation fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the oil and gas industry.
EQT Corporation stands out as the largest natural gas producer in the U.S. Its vertically integrated operations enhance efficiency, while a disciplined hedging strategy safeguards cash flows against market volatility. Additionally, EQT's operational efficiencies and cost management provide a competitive edge, allowing it to maintain financial stability and capitalize on growth opportunities despite industry fluctuations.
However, EQT has slipped 7.7% from its 52-week high of $56.66 achieved on Feb. 19. Furthermore, EQT stock surged 18.1% over the past three months, outperforming the broader Dow Jones Industrial Average’s ($DOWI) 1.6% fall during the same time frame.
Zooming out, EQT has surged 43.2% over the past six months and 45.1% over the past 52 weeks, outpacing $DOWI’s marginal decline over the past six months and 6.4% returns over the past year.
EQT has remained above its 200-day moving average since early November and above its 50-day moving average since mid-March, indicating an uptrend.
EQT stock surged marginally following its Q4 earnings release on Feb. 18. The company reported total operating revenue of $1.6 billion and sales volume of 605 Bcfe, at the high-end of guidance driven by continued operational efficiency gains and strong performance.
It achieved an adjusted EBITDA of $1.4 billion and generated free cash flow nearing $600 million, driven by increased production volumes and operational efficiencies. The company’s EPS amounted to $0.69, surpassing the Wall Street estimates by 38%.
Its rival, EOG Resources, Inc. (EOG), has lagged behind, with its shares surging 3.5% over the past six months and marginally over the past 52 weeks.
Among the 23 analysts covering the EQT stock, the consensus rating is a “Moderate Buy.” The mean price target of $56.96 suggests an 8.9% upside potential from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
