Is EQT Corp. a Winner in the Oil & Gas Extraction & Production Industry?

15 Sep 2021

Is EQT Corp. a Winner in the Oil & Gas Extraction & Production Industry?

. Is EQT Corp. a Winner in the Oil & Gas Extraction & Production Industry?The largest natural gas producer in the United States, EQT Corporation (NYSE:EQT), is gaining momentum due to surging natural gas prices. But while analysts expect this trend to continue, we think EQT could witness a substantial price pullback given its unsustainable valuation and weak fundamentals. So, let’s discuss.EQT Corporation (EQT) in Pittsburgh, Pa., is the largest independent natural gas producer in the United States, with a core asset base across the Appalachian Basin. Surging natural gas prices have driven EQT’s stock to substantial price gains over the past few months. Shares of EQT have gained 53.7% year-to-date and 8.9% over the past month.Because natural gas prices are expected to hit a 13-year high this winter, analysts expect EQT to gain momentum in the coming months. The $26.73 12-month median price target for the stock indicates a 36.9% potential upside from yesterday’s closing price of $19.53.However, EQT’s bleak financials and stretched valuation might make its rally unsustainable, especially in a volatile market.Continue reading on StockNews

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