EQT Corporation
- Open
- 50.08
- Day high
- 50.50
- Day low
- 49.38
- Prev close
- 49.38
- Volume
- 5.3M
- Mkt cap
- $31.0B
- P/E (TTM)
- 9.1
- EPS (TTM)
- $5.42
- P/B
- 1.2
- P/S
- 3.1
- Yield
- 1.32%
- Per share
- $0.65
- ▼Insiders net selling -$5.6M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
EQT Corporation (EQT) is a Energy company listed on NYSE. The stock is down 16% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4). Drillr has 3 published research articles covering EQT.
EQT Corporation (EQT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EQT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $2.08 | $2.33 | +12.0% | $3.4B | +5.1% |
| Feb 17, 2026 | $0.76 | $0.90 | +18.4% | $2.3B | +6.8% |
| Oct 21, 2025 | $0.36 | $0.52 | +43.8% | $1.8B | +0.7% |
| Jul 22, 2025 | $0.42 | $0.45 | +7.3% | $2.6B | +45.2% |
| Apr 22, 2025 | $1.03 | $1.18 | +14.6% | $2.4B | +11.9% |
| Feb 18, 2025 | $0.53 | $0.69 | +29.7% | $1.8B | +1.9% |
| Jul 23, 2024 | $-0.19 | $-0.08 | +58.8% | $891M | -16.1% |
| Feb 13, 2024 | $0.48 | $0.48 | +0.0% | $1.4B | -12.7% |
| Oct 25, 2023 | $-0.12 | $0.30 | +350.0% | $1.0B | -10.9% |
| Jul 25, 2023 | $-0.27 | $-0.17 | +37.0% | $854M | -17.0% |
| Feb 15, 2023 | $0.43 | $0.42 | -2.3% | $2.6B | +78.6% |
| Oct 26, 2022 | $0.99 | $1.04 | +5.1% | $3.7B | +110.8% |
EQT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | MCCARTNEY JOHNdirector | Grant | 44 | — |
| Jul 6, 2026 | Rice Daniel J. IVdirector | Grant | 541 | — |
| Jun 9, 2026 | Rice Toby Z.director, officer: PRESIDENT & CEO | Sell | 1,731 | $53.46 |
| Jun 9, 2026 | Rice Toby Z.director, officer: PRESIDENT & CEO | Sell | 10,511 | $55.17 |
| Jun 9, 2026 | Rice Toby Z.director, officer: PRESIDENT & CEO | Sell | 86,472 | $54.17 |
| Apr 29, 2026 | BAILEY VICKY Adirector | Sell | 4,116 | $59.80 |
| Apr 28, 2026 | Bolen J.E.B.officer: EVP OPERATIONS | Grant | 133,334 | $100.00 |
| Apr 28, 2026 | Duran Richard Aofficer: CHIEF INFORMATION OFFICER | Grant | 83,333 | $90.00 |
| Apr 28, 2026 | Knop Jeremyofficer: CHIEF FINANCIAL OFFICER | Grant | 266,666 | $90.00 |
| Apr 28, 2026 | Rice Toby Z.director, officer: PRESIDENT & CEO | Grant | 333,334 | $100.00 |
| Apr 28, 2026 | Evancho Lesleyofficer: CHIEF HUMAN RESOURCES OFFICER | Grant | 66,667 | $95.00 |
| Apr 28, 2026 | James Toddofficer: CHIEF ACCOUNTING OFFICER | Grant | 66,667 | $95.00 |
| Apr 28, 2026 | Rice Toby Z.director, officer: PRESIDENT & CEO | Grant | 333,333 | $90.00 |
| Apr 28, 2026 | Evancho Lesleyofficer: CHIEF HUMAN RESOURCES OFFICER | Grant | 66,666 | $90.00 |
| Apr 28, 2026 | Duran Richard Aofficer: CHIEF INFORMATION OFFICER | Grant | 83,334 | $100.00 |
Source: EQT SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full EQT insider & 13F page →EQT research & analysis
Goldman Sachs Natural Gas Warning: EQT Up 73%, But SO Faces Margin Squeeze
Goldman Sachs' supply crunch warning spotlights natgas winners like EQT and COP for production gains, midstream KMI/WMB for volumes, versus utility loser SO facing fuel cost pain. Backed by FY2025 financials showing EQT's 73% revenue surge and strong FCF across winners.
CVXCOPKMILNG Stocks to Watch as Asia-Pacific Demand Surges — WDS, COP, CVX Ranked
Australia's reliance on LNG exports amid volatility spotlights US-listed winners like WDS and COP with direct Asia-Pacific ties. The article analyzes six firms' exposure, financials, and ranks conviction amid rising demand.
WDSCVXCOPWhich US LNG exporters gain the most from rerouted European gas flows amid Gulf escalation?
Escalating Gulf tensions are rerouting European LNG demand toward US Gulf Coast exporters. Cheniere Energy (LNG) and Venture Global (VG) are the most direct beneficiaries with expanding terminal capacity, while EQT offers the cheapest upstream exposure at 14x forward P/E with 65% EBITDA margins.
LNGVGCOP
EQT Corporation company profile
Overview
EQT Corporation (NYSE:EQT) is a Pittsburgh-based natural gas production company that has evolved from its 1878 founding as Equitable Gas Company into one of America's largest natural gas producers. Originally a local gas distribution utility, EQT transformed into a pure-play natural gas exploration and production company through strategic divestitures and acquisitions. The company underwent a major strategic transformation in 2024 by acquiring Equitrans Midstream, creating America's only large-scale integrated natural gas company that controls both production and pipeline transportation infrastructure.
Business
EQT operates in the natural gas exploration and production industry, which involves locating underground natural gas reserves, drilling wells to extract the gas, and selling it to various customers. The company focuses primarily on unconventional natural gas production from shale formations, particularly the prolific Marcellus Shale in Appalachia. The company's core business centers on extracting natural gas from approximately 2 million gross acres of leasehold, with 1.7 million acres concentrated in the Marcellus play - a massive shale formation spanning Pennsylvania, West Virginia, and Ohio. The Marcellus Shale is considered one of the most productive and lowest-cost natural gas basins in North America. EQT uses advanced drilling techniques including horizontal drilling and hydraulic fracturing (fracking) to access gas trapped in dense rock formations thousands of feet underground. In addition to pure natural gas (methane), EQT also produces natural gas liquids (NGLs), which are valuable byproducts that include ethane, propane, isobutane, butane, and natural gasoline. These liquids are separated from the raw gas stream and sold separately, often commanding higher prices than dry natural gas. Following the 2024 Equitrans acquisition, EQT now operates two main business segments: 1. Upstream operations (approximately 85% of revenue) involving gas production from owned wells, and 2. Midstream operations (approximately 15% of revenue) involving pipeline transportation services for third parties through nearly 2,000 miles of transmission pipelines, including the recently completed Mountain Valley Pipeline.
Revenue model
EQT generates revenue through multiple streams within the natural gas value chain. The primary revenue source is commodity sales of natural gas and NGLs to utilities, power generators, industrial customers, and marketing companies. Natural gas prices fluctuate based on supply-demand dynamics, seasonal heating/cooling demand, and competition from other energy sources. The company's midstream operations generate steady revenue through long-term transportation contracts with third-party producers who pay fees to move their gas through EQT's pipeline network. These contracts typically provide more predictable cash flows compared to volatile commodity sales. Several factors significantly impact EQT's profitability margins. Natural gas prices represent the most critical variable, with higher prices directly improving margins since production costs remain relatively fixed. Operational efficiency improvements, such as drilling faster wells or completing more lateral footage per day, reduce per-unit costs. Infrastructure availability affects pricing, as pipeline constraints can create regional price discounts that hurt margins. The company benefits from economies of scale in its core operating area, allowing it to share infrastructure costs across multiple wells. Hedging strategies help manage price volatility, with EQT typically hedging 60-70% of near-term production. Weather patterns significantly influence demand, with colder winters and hotter summers increasing natural gas consumption for heating and power generation respectively. Competition from renewable energy sources and other natural gas basins can pressure long-term pricing and margins.
Competitive moat
EQT's competitive moat stems primarily from its geographic concentration and scale advantages in the low-cost Marcellus basin. The company has assembled a dominant acreage position in one of North America's most prolific natural gas regions, providing decades of drilling inventory at industry-leading breakeven costs below $2.00 per thousand cubic feet. The 2024 Equitrans acquisition significantly strengthened EQT's moat by creating vertical integration - the company now controls both production and transportation infrastructure, reducing third-party pipeline fees and providing more direct market access. This integrated platform is unique among large-scale natural gas companies and provides operational flexibility to optimize production timing based on market conditions. EQT's operational expertise in unconventional drilling represents another competitive advantage. The company has achieved industry-leading drilling and completion times, with costs reduced by over 50% since 2019 through technological improvements and economies of scale. However, the moat faces several challenges. Commodity price volatility remains a fundamental weakness, as natural gas prices can fluctuate dramatically based on weather, competing supply sources, and demand patterns. The company has limited ability to differentiate its product since natural gas is largely a commodity. Regulatory risks around environmental policies, particularly regarding methane emissions and climate change initiatives, could impose additional costs or restrict operations. Competition from renewable energy sources and other low-cost natural gas basins, particularly the Permian Basin, poses long-term threats to pricing power. The capital-intensive nature of the business requires continuous investment to maintain production levels, limiting financial flexibility during downturns.
Risks & safety
EQT demonstrates a moderate margin of safety with mixed financial metrics reflecting both strengths and concerns. • Debt levels: Total debt of approximately $11 billion against $24.3 billion in equity, with debt-to-equity ratio of 0.45 - manageable but elevated for a commodity business • Cash position: Limited cash reserves of $202 million relative to quarterly operating expenses, requiring continuous operational cash flow generation • Cash flow stability: Strong operating cash flow of $2.8 billion annually, but free cash flow varies significantly with commodity prices ($573 million in 2024 vs. $2.0 billion in 2022) • Valuation metrics: Trading at 11.3x EV/EBITDA and 1.14x book value - reasonable but not deeply discounted • Current ratio: 0.70 indicates potential short-term liquidity pressure, though typical for capital-intensive energy companies • Cyclical considerations: Earnings highly sensitive to natural gas price cycles, with business model requiring continuous capital investment to maintain production
Recent development
EQT has undergone significant strategic transformation over the past several years, culminating in its evolution into an integrated natural gas company. The most significant development was the $5.5 billion acquisition of Equitrans Midstream completed in 2024, which added nearly 2,000 miles of transmission pipelines and created America's only large-scale vertically integrated natural gas company. The company has achieved substantial operational efficiency improvements, reducing drilling costs by over 50% since 2019 through technological advances and process optimization. Recent achievements include setting records for drilling speed and completion efficiency, with the potential to reduce from three to two frac crews while maintaining production levels. EQT has made significant environmental commitments, achieving net zero Scope 1 and 2 greenhouse gas emissions ahead of its 2025 target and reducing methane intensity to 0.038%. The company has also invested in carbon capture and hydrogen initiatives through partnerships like the Appalachian Regional Clean Hydrogen Hub. Portfolio optimization efforts include divesting non-core assets, with plans to sell $3-5 billion in non-operated properties to focus on core Marcellus operations. The company has also established long-term supply agreements and is actively pursuing opportunities in emerging demand sectors, particularly data centers and AI-driven power generation that could require substantial new natural gas-fired electricity generation. Recent financial strategy shifts emphasize capital discipline and shareholder returns, with targets to reduce net debt to $5 billion and return excess cash through dividends and share repurchases rather than aggressive production growth.
EQT company profile · for informational purposes only — not investment advice.
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