EQT Corp (EQT) Valuation Update - June 4

[dan_s]

EQT closed on June 3 at $47.99.
I have updated my forecast/valuation model based on my updated oil & gas price deck.
My current valuation of EQT increases by $11 to $70/share.

EQT is the largest producer of natural as in the U.S.
> 2021 production increased by 24.3% year-over-year to 5,086,001 mcfepd
> 2022 production is expected to increase by ~10% YOY to 5,590,000 mcfepd (~95.2% dry gas, 4.7% NGLs, 0.1% crude oil)

TipRanks: On 5/31/2022 EQT Corporation price target raised to $65 from $64 at Mizuho
Mizuho Securities analyst Vincent Lovaglio raised the firm's price target on EQT Corporation to $65 from $64 and keeps a Buy rating on the shares. Global energy undersupply has continued to drive energy commodity prices higher, while logistics and supply chain constraints, broader macro uncertainty and a shift in corporate behavior push back the growth response, Lovaglio tells investors in a research note. This theme has been to the benefit of the U.S. exploration and production companies, says the analyst, who expects this to remain the case. He raised price targets 3% on average and maintains a bias to gas over oil-weighted E&Ps."

TipRanks gives Vincent Lovaglio a 5-Star rating (their highest rating)