EQT Corporation

EQT Corporation (NYSE: EQT) is a prominent vertically integrated natural gas producer in the United States, with integrated upstream and midstream operations primarily located in the Appalachian Basin. The company’s activities are concentrated across Pennsylvania, West Virginia, and Ohio, with approximately 610,000 net acres held or leased in Pennsylvania, largely situated in the southwestern region, including Greene and Washington Counties.

As per Kalkine’s Diversified Opportunities Report published on ‘EQT’ on Nov 06, 2025, Kalkine provided an ‘Buy’ stance on the stock at USD 55.99 based on fundamental analysis and the stock price has now moved up by ~ 10.77% since then.

Noted below are the details of support and resistance levels provided in our previous report:

Rationale:

EQT’s recent operational and financial performance reflects strong execution, with record free cash flow generation, improving well productivity, and declining operating costs driven by efficiency gains and integrated infrastructure investments. The company has also benefited from favorable natural gas price volatility and marketing optimisation, which supported incremental cash flow during FY2025 and strengthened its balance sheet through rapid deleveraging. However, after a period of strong operational outperformance and improved commodity realizations, a significant portion of these favourable developments appears increasingly reflected in the current market pricing, while future performance remains sensitive to natural gas price fluctuations, infrastructure constraints in the Appalachian Basin, and capital requirements for ongoing growth projects.

Valuation (Using Price/Earnings Multiple)

Share Price Chart

Conclusion

Following a period of robust operational execution, strong free cash flow generation, improving cost efficiencies, and supportive natural gas price dynamics, a significant portion of the company’s recent fundamental progress appears increasingly reflected in prevailing market levels. Therefore, a "Sell" recommendation on EQT Corporation (NYSE: EQT) has been given at the current market price of USD 62.02 as on 05 March 2026 at 7:45 am PST.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 05 March 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and/or technical analysis taking into consideration both short-term and long-term scenario.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 6: Dividend Yield may vary as per the stock price movement.