EQT, the Energy sector company, was revisited by a Wall Street analyst today. Analyst David Deckelbaum from TD Cowen maintained a Buy rating on the stock and has a $68.00 price target.
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David Deckelbaum has given his Buy rating due to a combination of factors including EQT’s operational efficiency and strategic positioning. The company has demonstrated strong operational performance, exceeding production estimates while managing to reduce capital expenditures. This efficiency is particularly evident in their Olympus acreage in the Utica, where enhanced liquids recovery has been noted.
Additionally, EQT’s strategic moves, such as recent LNG deals, aim to expose a significant portion of future volumes to international pricing, which could enhance revenue potential. Despite some strategic curtailments affecting short-term production, the overall annual guidance remains robust. The company’s financial health is further supported by a recent increase in their base dividend, reflecting confidence in sustained cash flow generation.
Based on the recent corporate insider activity of 73 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.