EQT Corp Stock Research

Market Summary

USD30.12+1.29

Market Closed

4.47%

EQT Stock Price

EQT RSI Chart

EQT Valuation

Market Cap

11.1B

Price/Earnings (Trailing)

6.29

Price/Sales (Trailing)

0.92

EV/EBITDA

3.4

Price/Free Cashflow

5.4

EQT Price/Sales (Trailing)

EQT Profitability

EBT Margin

19.27%

Return on Equity

15.85%

Return on Assets

7.81%

Free Cashflow Yield

18.53%

EQT Fundamentals

EQT Revenue

Revenue (TTM)

12.1B

Revenue Y/Y

-8.64%

Revenue Q/Q

-30.48%

EQT Earnings

Earnings (TTM)

1.8B

Earnings Y/Y

-5.14%

Earnings Q/Q

150.41%

Price Action

52 Week Range

25.9451.79

(Low)(High)

Last 7 days

-10.3%

Last 30 days

-6.6%

Last 90 days

-24.6%

Trailing 12 Months

13.6%

EQT Financial Health

Current Ratio

1.08

Debt/Equity

0.43

Debt/Cashflow

0.73

EQT Investor Care

Dividend Yield

1.83%

Dividend/Share (TTM)

0.55

Shares Dilution (1Y)

3.70%

Diluted EPS (TTM)

4.38

Peers (Alternatives to EQT)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ET	40.6B	89.9B	-7.80%	29.98%	8.97	1.48	33.31%	-13.05%
KMI	37.2B	19.2B	-9.84%	0.22%	14.6	1.94	15.59%	42.83%
WMB	35.1B	11.0B	-9.53%	-6.22%	17.15	3.2	3.18%	35.07%
CQP	28.8B	17.2B	-15.82%	-1.16%	20.75	2.2	82.38%	53.25%
OKE	27.3B	22.4B	-12.90%	-0.85%	15.84	1.22	35.35%	14.84%
EQT	11.1B	12.1B	-6.58%	13.61%	6.29	0.92	78.04%	254.97%
MID-CAP
DCP	8.2B	15.0B	0.07%	47.53%	9.89	0.59	40.03%	169.05%
NFE	6.0B	2.4B	-28.31%	1.19%	30.82	2.53	79.03%	100.28%
CDEV	2.4B	2.1B	16.16%	51.19%	4.03	1.42	106.94%	272.74%
ETRN	2.4B	1.4B	-18.81%	-20.26%	-8.76	1.74	3.09%	80.92%
SMALL-CAP
VTNR	592.5M	2.8B	-5.10%	-10.81%	-122.87	0.21	2311.20%	73.74%
RTLR	582.1M	404.2M	19.84%	54.87%	15.22	1.44	-0.37%	17.85%
SMLP	202.8M	369.6M	-3.26%	12.60%	-1.71	0.51	-7.74%	-284.00%
AREC	90.9M	39.3M	-9.52%	-33.17%	-4.34	2.31	900.42%	30.96%

Financials for EQT

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-2.0%	12,114	12,357	10,447	8,160	6,804
S&GA Expenses	1.9%	253	248	230	220	196
Costs and Expenses	-4.4%	4,780	5,002	5,002	4,794	4,426
EBITDA	-5.0%	4,250	4,472	1,044	-1,470	-
EBITDA Margin	-3.1%	0.35*	0.36*	0.10*	-0.18*	-
Earnings Before Taxes	-5.1%	2,335	2,460	-1,016	-3,498	-1,569
EBT Margin	-3.2%	0.19*	0.20*	-0.10*	-0.43*	-
Interest Expenses	-6.0%	250	266	281	287	290
Net Income	-5.0%	1,771	1,864	-796	-2,621	-1,142
Net Income Margin	-3.1%	0.15*	0.15*	-0.08*	-0.32*	-
Free Cahsflow	-5.1%	2,065	2,177	1,201	1,188	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.6%	22,670	22,541	22,622	21,815	21,607
Current Assets	2.9%	4,014	3,902	4,086	3,026	2,287
Cash Equivalents	1566.2%	1,459	88.00	44.00	17.00	114
Net PPE	0.2%	18,167	18,132	18,202	18,296	18,419
Liabilities	-11.1%	11,457	12,883	13,532	13,609	11,636
Current Liabilities	-43.8%	3,732	6,638	7,190	7,605	5,186
Long Term Debt	-5.4%	4,769	5,042	5,485	-	-
LT Debt, Current	0.2%	423	422	441	494	1,061
Shareholder's Equity	16.2%	11,172	9,619	9,090	8,206	9,955
Retained Earnings	528.5%	1,284	-299	-880	-1,725	-94.40
Accumulated Depreciation	4.3%	9,227	8,847	8,438	8,009	7,597
Shares Outstanding	-1.1%	370	374	-	-	-
Minority Interest	3.1%	41.00	40.00	29.00	17.00	16.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-3.0%	3,466	3,573	2,471	2,284	1,662
Share Based Compensation	10.1%	45.00	41.00	36.00	29.00	28.00
Cashflow From Investing	-3.4%	-1,421	-1,375	-1,905	-2,116	-2,072
Cashflow From Financing	67.2%	-699	-2,132	-852	-191	506
Dividend Payments	36.9%	204	149	93.00	47.00	0.00
Buy Backs	34.5%	409	304	229	229	13.00

Risks for EQT

What is the probability of a big loss on EQT?

100%

Probability that EQT stock will be more than 20% underwater in next one year

57.3%

Probability that EQT stock will be more than 30% underwater in next one year.

45%

Probability that EQT stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does EQT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if EQT was unfortunately bought at previous high price.

Drawdowns

Returns for EQT

Cumulative Returns on EQT

-1.8%

10-Year Cumulative Returns

-2.2%

7-Year Cumulative Returns

1.8%

5-Year Cumulative Returns

45.4%

3-Year Cumulative Returns

What are the long-term rolling returns for EQT?

FIve years rolling returns for EQT.

Annualized Returns

Which funds bought or sold EQT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	0.43	-52,508	262,492	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-29.14	-2,709,920	3,872,080	-%
2023-03-06	Rockefeller Capital Management L.P.	new	-	4,000	4,000	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-62.4	-3,156,000	1,430,000	0.01%
2023-03-06	OLD MISSION CAPITAL LLC	sold off	-100	-3,509,000	-	-%
2023-03-01	Goehring & Rozencwajg Associates, LLC	new	-	13,479,300	13,479,300	4.79%
2023-02-28	Voya Investment Management LLC	reduced	-7.4	-1,958,280	6,508,720	0.01%
2023-02-24	National Pension Service	sold off	-100	-20,235,400	-	-%
2023-02-24	NATIXIS	added	1,832	3,753,870	4,002,870	0.02%
2023-02-22	CVA Family Office, LLC	new	-	2,334	2,334	-%

Latest Funds Activity

Are funds buying EQT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own EQT

No. of Funds

EQT News

Schedule 13G FIlings of EQT

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	10.60%	38,916,045	SC 13G/A
Feb 06, 2023	state street corp	7.13%	26,180,036	SC 13G/A
Jan 26, 2023	blackrock inc.	12.8%	46,835,221	SC 13G/A
Jan 20, 2023	blackrock inc.	12.8%	46,835,221	SC 13G/A
May 10, 2022	bank of new york mellon corp	4.44%	16,422,316	SC 13G/A
Feb 10, 2022	vanguard group inc	9.17%	34,646,104	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G
Feb 02, 2022	bank of new york mellon corp	5.40%	20,423,417	SC 13G
Jan 27, 2022	blackrock inc.	14.5%	54,920,670	SC 13G/A

EQT Fair Value

EQT fair value in different scenarios

The table shows the Fair Value estimates for EQT for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	13.55 -55.01%	24.36 -19.12%	64.48 114.08%	97.20 222.71%	172.62 473.11%
Current Inflation	58.92 95.62%	81.41 170.29%	223.22 641.10%	364.42 1109.89%	481.45 1498.44%
Very High Inflation	11.90 -60.49%	19.93 -33.83%	48.45 60.86%	71.58 137.65%	123.97 311.59%

Historical EQT Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of EQT

View All Filings

Date Filed	Form Type	Document
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	DEFA14A	DEFA14A
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading

Latest Insider Trading transactions for EQT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-08	Evancho Lesley	sold (taxes)	-1,034,360	32.16	-32,163	chief human resources officer
2023-03-08	Jordan William E.	acquired	-	-	145,868	evp, gc and corp sec
2023-03-08	Duran Richard A	sold (taxes)	-922,992	32.16	-28,700	chief information officer
2023-03-08	Khani David M.	acquired	-	-	182,328	chief financial officer
2023-03-08	Khani David M.	sold (taxes)	-2,567,720	32.16	-79,842	chief financial officer
2023-03-08	Rice Toby Z.	acquired	-	-	1,093,930	president & ceo
2023-03-08	Duran Richard A	acquired	-	-	72,934	chief information officer
2023-03-08	James Todd	acquired	-	-	25,318	chief accounting officer
2023-03-08	James Todd	sold (taxes)	-355,754	32.16	-11,062	chief accounting officer
2023-03-08	Rice Toby Z.	sold (taxes)	-15,300,100	32.16	-475,749	president & ceo

About EQT

Toby Z. Rice

www.eqt.com

690

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play. The company was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.

EQT Income Statement

2022-12-31

STATEMENTS OF CONSOLIDATED OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating revenues:
Sales of natural gas, natural gas liquids and oil	$ 12,114,168	$ 6,804,020	$ 2,650,299
(Loss) gain on derivatives	(4,642,932)	(3,775,042)	400,214
Total operating revenues	7,497,689	3,064,663	3,058,843
Operating expenses:
Transportation and processing	2,116,976	1,942,165	1,710,734
Production	300,985	225,279	155,403
Exploration	3,438	24,403	5,484
Selling, general and administrative	252,645	196,315	174,769
Depreciation and depletion	1,665,962	1,676,702	1,393,465
Amortization of intangible assets	0	0	26,006
(Gain) loss/impairment on sale/exchange of long-lived assets	(8,446)	(21,124)	100,729
Impairment of contract and other assets	214,195	0	34,694
Impairment and expiration of leases	176,606	311,835	306,688
Other operating expenses	57,331	70,063	28,537
Total operating expenses	4,779,692	4,425,638	3,936,509
Operating income (loss)	2,717,997	(1,360,975)	(877,666)
Gain on Equitrans Share Exchange (Note 5)	0	0	(187,223)
Loss (income) from investments	4,931	(71,841)	314,468
Dividend and other income	(11,280)	(19,105)	(35,512)
Loss on debt extinguishment	140,029	9,756	25,435
Interest expense	249,655	289,753	259,268
Income (loss) before income taxes	2,334,662	(1,569,538)	(1,254,102)
Income tax expense (benefit)	553,720	(428,037)	(295,293)
Net income (loss)	1,780,942	(1,141,501)	(958,809)
Less: Net income (loss) attributable to noncontrolling interests	9,977	1,246	(10)
Net income (loss) attributable to EQT Corporation	$ 1,770,965	$ (1,142,747)	$ (958,799)
Income (loss) per share of common stock attributable to EQT Corporation:
Weighted average common stock outstanding - Basic (in shares)	370,048	323,196	260,613
Net income (loss) attributable to EQT Corporation - Basic (in dollars per share)	$ 4.79	$ (3.54)	$ (3.68)
Weighted average common stock outstanding - Diluted (in shares)	406,495	323,196	260,613
Net income (loss) attributable to EQT Corporation - Diluted (in dollars per share)	$ 4.38	$ (3.54)	$ (3.68)
Sales of natural gas, natural gas liquids and oil
Operating revenues:
Sales of natural gas, natural gas liquids and oil	$ 12,114,168	$ 6,804,020	$ 2,650,299
Net marketing services and other
Operating revenues:
Net marketing services and other	$ 26,453	$ 35,685	$ 8,330

EQT Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,458,644	$ 113,963
Accounts receivable (less provision for doubtful accounts: $605 and $321)	1,608,089	1,438,031
Derivative instruments, at fair value	812,371	543,337
Prepaid expenses and other	135,337	191,435
Total current assets	4,014,441	2,286,766
Property, plant and equipment	27,393,919	26,016,092
Less: Accumulated depreciation and depletion	9,226,586	7,597,172
Net property, plant and equipment	18,167,333	18,418,920
Contract asset	0	410,000
Other assets	488,152	491,702
Total assets	22,669,926	21,607,388
Current liabilities:
Current portion of debt	422,632	1,060,970
Accounts payable	1,574,610	1,339,251
Derivative instruments, at fair value	1,393,487	2,413,608
Other current liabilities	341,491	372,412
Total current liabilities	3,732,220	5,186,241
Senior notes	5,167,849	4,435,782
Note payable to EQM Midstream Partners, LP	88,484	94,320
Deferred income taxes	1,442,406	907,306
Other liabilities and credits	1,025,639	1,012,740
Total liabilities	11,456,598	11,636,389
Equity:
Common stock, no par value, shares authorized: 640,000, shares issued: 365,363 and 377,432	9,891,890	10,071,820
Treasury stock, shares at cost: zero and 1,033	0	(18,046)
Retained earnings (accumulated deficit)	1,283,578	(94,400)
Accumulated other comprehensive loss	(2,994)	(4,611)
Total common shareholders' equity	11,172,474	9,954,763
Noncontrolling interest in consolidated subsidiaries	40,854	16,236
Total equity	11,213,328	9,970,999
Total liabilities and equity	$ 22,669,926	$ 21,607,388