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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 07:24 EDT
MKM Partners analyst John Gerdes upgraded EQT Corporation to Buy from Neutral but lowered his price target to $10, down from $12. The analyst states that the stock price has fallen by about half year-to-date and now reflects about 70% of intrinsic upside. Gerdes also believes that EQT Corp offers a "roughly" stable production outlook with "sufficient" financial capacity to address its term debt maturities.
News For EQT From the Last 2 Days
Jul 23, 2024 | 16:35 EDT
Maintains 2024 EQT maintenance capital expenditures view $1.95B-$2.05B. The company also maintains its 2024 strategic growth capital expenditures guidance of $200M-$300M, which targets opportunistic, high-return water, midstream and other infrastructure and land opportunities. Following the close of the Equitrans acquisition, the company expects to spend $180M-$230M in the balance of 2024 for Equitrans capital expenditures.
Jul 23, 2024 | 16:33 EDT
Reports Q2 adjusted operating revenue $1.18B, consensus $1.06B. Reports Q2 sales volume of 508 Bcfe, above the high-end of guidance. CEO Toby Rice stated, "This week marked a significant milestone in the history of our company as we closed the acquisition of Equitrans, transforming EQT into America's only large-scale, vertically integrated natural gas business. This combination creates a truly differentiated business model among the energy investment landscape, as EQT is now at the low end of the North American natural gas cost curve. We believe our sustainable cost structure advantage, combined with our scale, peer leading inventory depth, low emissions profile and world class operating team offers the best risk-adjusted exposure to natural gas prices of any publicly investable asset in the world. We also experienced yet another quarter of operational outperformance as our teams continue to find novel ways to drive incremental efficiency gains. Recent enhancements we've made to supply chain logistics have driven materially faster completion times on our latest wells, which are outpacing our 2023 average completion speed by more than 35%. We see the potential for these gains to drive structurally lower well costs and future maintenance capital requirements."
Jul 23, 2024 | 14:49 EDT
Pre-earnings options volume in EQT Corporation is 1.2x normal with puts leading calls 5:4. Implied volatility suggests the market is anticipating a move near 3.8%, or $1.33, after results are released. Median move over the past eight quarters is 3.9%.
Jul 23, 2024 | 05:12 EDT
JPMorgan upgraded EQT Corporation to Overweight from Neutral with a $42 price target. Following the stock's significant underperformance versus gassy peers year-to-date, EQT's risk/reward is skewed more positively, the analyst tells investors in a research note. The firm has confidence in the company's deleveraging program and has an attractive view of natural gas fundamentals. It sees mixed sentiment on the stock with "much of the AI froth" having eased on natural gas levered stocks.