UPDATE 2-Oil and gas producer EQT to buy Rice Energy in $6.7 bln deal [Reuters]
EQT Corporation (EQT)
Last eqt corporation earnings: 2/27 06:30 am
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Source: Reuters
Oil and gas producer EQT to buy Rice Energy in $6.7 billion dealn"U.S. oil and gas company EQT Corp (EQT.N) said on Monday it would buy Rice Energy (RICE.N) for $6.7 billion (5.24 billion pounds) in its biggest deal ever, as it looks to expand its natural gas business.Rice Energy's shares surged more than 24 percent to $24.47 in early trading, but below the $27.05 per share offered by EQT. EQT's shares were down 9.4 percent.The deal comes at a time when U.S. energy firms are pumping in money to develop facilities in gas-rich states like Pennsylvania, West Virginia and Ohio as the country prepares to become the world's top natural gas exporter.EQT said it would be able to drill longer horizontal wells in Pennsylvania after the deal as most of the acquired acreage is next to where EQT already drills or owns land."EQT is a decade behind in fracking technology used by industry leaders in Marcellus/Utica," said Dallas Salazar, CEO of energy consulting firm Atlas Consulting. "EQT needs a lo
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EQT
News
- EQT Co. (NYSE: EQT) had its "overweight" rating re-affirmed by analysts at Piper Sandler. They now have a $46.00 price target on the stock, up previously from $41.00.MarketBeat
- ProShares Ultra Bloomberg Natural Gas: Trading Short-Term Tailwinds (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- EQT Co. (NYSE: EQT) had its price target raised by analysts at Mizuho from $40.00 to $43.00. They now have a "neutral" rating on the stock.MarketBeat
- EQT Q1 Earnings Top Estimates on Higher Sales Volumes [Yahoo! Finance]Yahoo! Finance
- EQT Co. (NYSE: EQT) had its price target raised by analysts at Stephens from $46.00 to $47.00. They now have an "equal weight" rating on the stock.MarketBeat
EQT
Earnings
- 4/23/24 - Miss
EQT
Sec Filings
- 4/24/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/19/24 - Form 4
- EQT's page on the SEC website