Wells Fargo analyst Roger Read has maintained their bullish stance on EQT stock, giving a Buy rating on April 24.
Roger Read has given his Buy rating due to a combination of factors including EQT’s strategic acquisition of Olympus Energy, which is expected to significantly enhance the company’s inventory and align with its integrated operations. This acquisition is projected to generate substantial EBITDA and free cash flow over the next three years, supporting stronger financial performance and long-term value creation.
Additionally, EQT’s improved production guidance and reduced capital expenditure reflect operational efficiencies and strong well performance. The company’s robust balance sheet, with plans to reduce net debt and increase shareholder returns through dividends and share repurchases, further strengthens its financial position. These factors, combined with a favorable macroeconomic outlook for natural gas demand, underpin the Buy rating.
In another report released on April 24, Morgan Stanley also maintained a Buy rating on the stock with a $65.00 price target.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQT in relation to earlier this year.