EQT Stock Summary and Trading Ideas (Eqt | NYSE:EQT)

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.

Eqt trades on the NYSE stock market under the symbol EQT.

As of May 10, 2024, EQT stock price declined to $38.93 with 5,154,071 million shares trading.

EQT has a beta of 0.96, meaning it tends to be less sensitive to market movements. EQT has a correlation of 0.12 to the broad based SPY ETF.

EQT has a market cap of $17.19 billion. This is considered a Large Cap stock.

Last quarter Eqt reported $2 billion in Revenue and $.82 earnings per share. This beat revenue expectation by $160 million and exceeded earnings estimates by $.18.

In the last 3 years, EQT stock traded as high as $51.97 and as low as $15.71.

The top ETF exchange traded funds that EQT belongs to (by Net Assets): VTI, XLE, VOO, VB, SPY.

EQT has underperformed the market in the last year with a price return of +22.8% while the SPY ETF gained +27.8%. However, in the short term, EQT had mixed performance relative to the market. It has outperformed in the last 3 months, returning +14.3% vs +4.2% return in SPY. But in the last 2 weeks, EQT shares have been beat by the market, returning -3.7% compared to an SPY return of +2.5%.

EQT support price is $39.19 and resistance is $40.85 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EQT stock will trade within this expected range on the day.