EQT

ConocoPhillips, EOG Resources, and Phillips 66 drive 38% of IEO’s income, making the fund deeply dependent on energy sector volatility. IEO returned 41% in the past year but retirees should avoid it; payouts are unpredictable and WTI at 98th percentile suggests downside risk. The analyst who called NVIDIA in 2010 just named his top 10 stocks and iShares US Oil & Gas Exploration & Production ETF wasn't one of them. Get them here FREE. The iShares U.S. Oil & Gas Exploration & Production ETF (NYSEARCA:IEO) just paid a $0.55 distribution in March, the lightest quarterly payment since mid-2024. IEO holders are buying the aggregated dividend policies of America's largest oil and gas producers, and those policies flex with the commodity. With WTI back above $112 per barrel in mid-May, the question is whether distributions through the rest of 2026 will hold near current levels, surge toward 2022 highs, or decline as they did during the winter oil swoon. IEO is a passive index fund tracking U.S. oil and gas exploration, production, and refining names. It charges 0.38% in expenses and pays out roughly what its underlying companies pay, net of fees. When ConocoPhillips raises its variable dividend, IEO's next quarterly distribution rises. When EQT cuts in a weak gas market, IEO's distribution shrinks. That mechanic makes the payout inherently lumpy. Quarterly distributions ranged from $0.19 in the second quarter of 2020 to $1.22 in the third quarter of 2022. The 2025 payments averaged $0.58 per share, in line with 2024. IEO functions as a pass-through for energy cash flow. The analyst who called NVIDIA in 2010 just named his top 10 stocks and iShares US Oil & Gas Exploration & Production ETF wasn't one of them. Get them here FREE. Three names produce most of the income. ConocoPhillips alone is roughly 20% of assets, with EOG Resources at about 10% and Phillips 66 at about 9%, putting the top three near 38% of the fund. Marathon Petroleum and Devon Energy add another 11%. ConocoPhillips is the linchpin. The stock is up 43% over the past year and pays a base dividend plus a variable component tied to free cash flow. With WTI averaging well above its breakeven, base coverage is secure. The variable piece will fall if oil retreats toward $55 December 2025 low. Gas-weighted holdings introduce separate risk. EQT and Coterra represent about 9% of the fund, and Henry Hub has c...

It has been about a month since the last earnings report for EQT Corporation (EQT). Shares have lost about 1.5% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is EQT due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. EQT reported first-quarter 2026 adjusted earnings from continuing operations of $2.33 per share, which beat the Zacks Consensus Estimate of $2.23. The bottom line increased from the year-ago quarter’s figure of $1.18. Adjusted operating revenues increased to $3,136 million from $2,153 million in the prior-year quarter. The top line beat the Zacks Consensus Estimate of $3,127 million. Strong quarterly results were driven by the increase in total sales volumes and higher realized natural gas equivalent prices. Sales volume increased to 618 billion cubic feet equivalent (Bcfe) from the year-ago level of 571 Bcfe. The reported figure beat our estimate of 598 Bcfe. Natural gas sales volume was 581 Bcf, up from 536 Bcf in the year-ago quarter. The figure came higher than our estimate of 565 Bcf. The total liquid sales volume was 6,061 thousand barrels (MBbls), up from the year-ago level of 5,735 MBbls. The figure beat our projection of 5,497 MBbls. The average realized price was $5.08 per thousand cubic feet of natural gas equivalent (Mcfe), up from the year-ago figure of $3.77. The average natural gas price, including cash-settled derivatives, was $5.27 per Mcf, which increased from $3.74 a year ago. Our estimate for the same was pinned at $5.12 per Mcf. The natural gas sales price was $5.22 per Mcf, higher than the $3.83 recorded a year ago. The oil price was $54.94 per barrel compared with the year-ago figure of $53.05. Our estimate for the same was pegged at $56.98 per barrel. Total operating expenses were $1,343 million, higher than the $1,244 million reported in the prior-year quarter. Gathering expenses totaled 9 cents per Mcfe, up from the year-ago level of 8 cents. Transmission expenses stood at 43 cents per Mcfe, down from 44 cents recorded a year ago. Lease operating expenses amounted to 9 cents per Mcfe, higher than 7 cents in the corresponding period of 2025. Sell...

EQT Corporation (NYSE:EQT) is one of the Best Undervalued Stocks to Buy Under $100. Recently, on May 5, Scott Gruber from Citi assigned a Buy rating on the stock and raised the price target from $66 to $70. Earlier, on April 26, Lloyd Byrne from Jefferies reiterated a Buy rating on EQT Corporation (NYSE:EQT) and also raised the price target from $76 to $77. The ratings follow EQT’s FQ1 2026 earnings release on April 21. The company posted $3.38 billion in revenue, reflecting 94.20% year-over-year increase and ahead of expectations by $206.14 million. The GAAP EPS of $2.36 also topped the consensus by $0.29. Jefferies noted that during the earnings call, management highlighted strong demand for gas driven by increased power generation. As a result, the firm finds the company to be placed attractively as a key supplier in times of incremental growth. During the quarter, EQT delivered sales volumes ahead of management’s internal guidance. As a result, the free cash flow reached $1.8 billion, a record high, matching the total of full-year 2022 in just one quarter. EQT Corporation (NYSE:EQT) is a premier and vertically integrated natural gas company. It has upstream and midstream operations focused on the Appalachian Basin. While we acknowledge the potential of EQT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Stocks to Buy While the Market Is Down and 14 Stocks That Will Double in the Next 5 Years. Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

U.S. energy operator APA Corporation APA reported first-quarter 2026 adjusted earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.01. The bottom line rose from the year-ago adjusted profit of $1.06. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses. Revenues of $2.2 billion were down 15.2% from the year-ago quarter’s sales but beat the Zacks Consensus Estimate by 4.8%. APA Corporation price-consensus-eps-surprise-chart | APA Corporation Quote Meanwhile, APA continues to reward its shareholders, having paid out $88 million in dividends during the first quarter of 2026. Production of oil and natural gas averaged 442,352 BOE/d, which comprised 69% liquids. The figure was down 6% from the year-ago quarter but surpassed our expectation of 439,997 BOE/d. U.S. output (accounting for 60% of the total) fell 11% year over year to 264,720 BOE/d, but production from the company’s international operations increased 4.1% to 177,632 BOE/d. APA’s oil and natural gas liquids (NGLs) production was 304,947 barrels per day (Bbl/d). Natural gas output totaled 824,426 thousand cubic feet per day (Mcf/d). The average realized crude oil price during the first quarter was $78.69 per barrel, up 6.7% from the year-ago realization of $73.73. The number also significantly surpassed our projection of $56.74. The average realized natural gas price fell to $2.12 per thousand cubic feet (Mcf) from $2.81 in the year-ago period and missed our estimate of $3.62. APA’s first-quarter lease operating expenses totaled $362 million, down 11% from $407 million in the year-ago period. Moreover, an 84.2% drop in purchased oil/gas costs meant that total operating expenses decreased nearly 25% from the corresponding period of 2025 to $1.4 billion. The number was below our model projection of $1.5 billion. During the quarter under review, APA generated $554 million of cash from operating activities while it incurred $564 million in upstream capital expenditures. The Zacks Rank #1 (Strong Buy) company reported an adjusted operating cash flow of $1.2 billion. It also registered a free cash flow of $477 million compared to $126 million a year ago. You can see the complete list of today’s Zacks #1 Rank stocks here. As of March 31, APA had approximately $293 million in cash and cash equivalents and $4.3 billion in long-term debt, repres...

TC Energy Corporation TRP reported first-quarter 2026 adjusted earnings of 72 cents per share, which beat the Zacks Consensus Estimate of 70 cents. Moreover, the bottom line increased from 66 cents reported in the year-ago period. This outperformance was driven by robust results from all the reportable segments of the company. This North American energy infrastructure provider's quarterly revenues of $2.8 billion missed the Zacks Consensus Estimate by 5%. However, the figure increased 11.5% year over year. TC Energy Corporation price-consensus-eps-surprise-chart | TC Energy Corporation Quote TC Energy’s comparable EBITDA increased to C$3.1 billion from C$2.7 billion in the prior year. TRP’s board of directors declared a quarterly dividend of 87.75 Canadian cents per common share for the quarter ending June 30, 2026, translating to an annualized dividend rate of C$3.51. The dividend will be payable on July 31, 2026, to its shareholders of record on June 30. Canadian Natural Gas Pipelines reported a comparable EBITDA of C$919 million, up 3.3% from the year-ago quarter’s level. TRP reported that Canadian Natural Gas Pipelines deliveries averaged 29.7 billion cubic feet per day (Bcf/d), marking a 3% increase from the year-ago quarter’s level and achieving a new all-time delivery record of 33.2 Bcf on Jan. 22, 2026. The company posted that Canadian Mainline Western receipts averaged 5 Bcf/d, in line with the year-ago quarter’s level. U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1,497 million, indicating a 9.5% increase from the prior-year quarter’s actual. U.S. Natural Gas Pipelines recorded daily average flows of 32.6 Bcf/d, marking a 5% increase from the first quarter of 2025. The segment also reached a new all-time delivery record of 39.9 Bcf on Jan. 29, 2026. Deliveries to LNG facilities averaged 3.9 Bcf/d, up 12% from the prior-year quarter. Mexico Natural Gas Pipelines reported a comparable EBITDA of C$432 million, up 85.4% from the year-ago quarter’s reported figure of C$233 million. TRP reported that Mexico Natural Gas Pipelines flows in the first quarter averaged 2.8 Bcf/d, which was lower than the year-ago quarter’s level due to adjustments made to the pipeline flows. Additionally, deliveries to power generation facilities averaged 1.2 Bcf/d in the first quarter of 2026, in line with first-quarter 2025. Power and Energy Solutions registe...

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. EQT (EQT) drew fresh attention after reporting first quarter 2026 earnings, with sales volumes above guidance and higher adjusted EPS and revenue, prompting investors to reassess the stock’s recent performance and risk profile. See our latest analysis for EQT. EQT’s 7.3% year to date share price return and 7.6% one year total shareholder return suggest momentum has cooled in recent weeks, despite stronger quarterly earnings drawing renewed attention to the stock’s long term gains. If strong Q1 numbers have you reassessing energy exposure, it could be worth broadening your search with a curated set of 91 nuclear energy infrastructure stocks With EQT posting solid Q1 figures, positive annual revenue and net income growth, and the stock trading below the average analyst price target and intrinsic value estimate, should you see a mispriced opportunity here, or assume markets are already baking in future growth? With EQT closing at $57.36 against a narrative fair value of $70.48, the current setup centers on modest growth assumptions and a richer future earnings multiple. Read the complete narrative. Curious what justifies paying a higher future P/E for single digit revenue growth and only slight margin compression, and how that rolls up to a $70.48 fair value? The narrative leans on detailed forecasts for revenue, earnings, and per share dilution that many investors might overlook at a glance. Result: Fair Value of $70.48 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this hinges on gas demand and pricing holding up. Faster decarbonization efforts or tighter regulation on methane and new infrastructure could pressure EQT’s margins and growth plans. Find out about the key risks to this EQT narrative. If the mix of opportunity and concern here feels finely balanced, this is the moment to look at the underlying data and decide where you stand. To weigh the upside against the potential downside in one place, check the 4 key rewards and 1 important warning sign Do not stop at one stock when a broader watchlist could reveal stronger dividends, steadier balance sheets, and overlooked opportunities that might suit your goals better. Target reliable income streams by scanning companies that stand out a...

EQT delivered a first quarter that exceeded Wall Street’s expectations, prompting a positive market response. Management attributed this performance to a combination of robust free cash flow generation, operational resilience during Winter Storm Fern, and strategic benefits from the Equitrans integration. CEO Toby Rice emphasized that EQT’s ability to capture nearly all of the market volatility upside, thanks to a minimal hedging approach, was a significant driver. The company also highlighted strong production uptime and efficiency gains, noting, “In just 90 days, we generated roughly as much free cash flow as we did during the entirety of 2022.” Is now the time to buy EQT? Find out in our full research report (it’s free). Revenue: $3.14 billion vs analyst estimates of $3.19 billion (45.7% year-on-year growth, 1.7% miss) Adjusted EPS: $2.33 vs analyst estimates of $2.15 (8.4% beat) Adjusted EBITDA: $2.68 billion vs analyst estimates of $2.49 billion (85.4% margin, 7.7% beat) Operating Margin: 64.9%, up from 23.1% in the same quarter last year Market Capitalization: $36.68 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Douglas George Blyth Leggate (Wolfe Research) asked about accelerating LNG market access and capital allocation between buybacks and dividends. CEO Toby Rice said near-term LNG acceleration is limited by current market spreads, while CFO Jeremy Knop emphasized buybacks and disciplined reinvestment over higher dividends. Kaleinoheaokealaula Akamine (Bank of America) pressed on the scale and timing of data center-related gas demand. Rice detailed significant projects in Appalachia, and Knop said multiple billion cubic feet per day in new supply deals could materialize within the next two to three years. Arun Jayaram (J.P. Morgan) requested updates on large supply deals and LNG offtake timing. Knop reported construction progress on key projects and said major LNG offtake agreements are likely closer to 2028-2029. Neil Mehta (Goldman Sachs) asked about lessons from Winter Storm Fern and replicability. Rice described improved operational playbooks and Knop cited the benefits of midstream integrati...

EQT Corporation (EQT) reported $3.14 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 45.7%. EPS of $2.33 for the same period compares to $1.18 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $3.13 billion, representing a surprise of +0.29%. The company delivered an EPS surprise of +4.48%, with the consensus EPS estimate being $2.23. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how EQT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Average Sales Price - Natural gas price: $3.76 compared to the $3.42 average estimate based on five analysts. Average Sales Price - Oil price: $44.98 versus $45.41 estimated by five analysts on average. Sales Volume - Total: 608,994.00 MMcfe versus 601,337.10 MMcfe estimated by four analysts on average. NGLs, excluding ethane - NGLs price: $40.90 versus the four-analyst average estimate of $28.61. Natural gas - Sales volume: 572,231.00 MMcf versus 563,644.60 MMcf estimated by four analysts on average. Oil - Sales volume: 585.00 MBBL versus 462.98 MBBL estimated by four analysts on average. Operating revenues- Pipeline and other: $170.04 million versus $147.4 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change. Operating revenues- Sales of natural gas, natural gas liquids and oil: $2.1 billion versus the three-analyst average estimate of $1.96 billion. The reported number represents a year-over-year change of +28.2%. Revenues from contracts with customers- NGLs sales: $162.14 million versus the three-analyst average estimate of $141.22 million. The reported number represents a year-over-year change of -10.1%. Total natural gas and liquids sales, including cash settled derivatives: $2.09 billion versus $1.92 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +15% change....

Patterson-UTI Energy, Inc. PTEN reported a first-quarter 2026 adjusted net loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a 10-cent loss. However, the bottom line decreased from the year-ago quarter's breakeven result due to a decrease in operating income in its Drilling Services, Completion Services and Drilling Products segments. Total revenues of $1.1 billion beat the Zacks Consensus Estimate by 3.1%. This was driven by higher-than-expected revenues from the Drilling Services and Completion Services segments. The Drilling Services and Completion Services segments reported revenues of $351.7 million and $679.6 million, which beat the consensus mark of $350 million and $37.1 million, respectively. However, the top line decreased about 12.8% year over year. This underperformance can be attributed to the decrease in year-over-year segment revenues. Patterson-UTI Energy, Inc. price-consensus-eps-surprise-chart | Patterson-UTI Energy, Inc. Quote PTEN’s board of directors declared a quarterly dividend of 10 cents per share, payable on June 15, 2026, to its common shareholders of record as of June 1. Drilling Services: Revenues in this segment totaled $351.7 million, down 14.8% from the prior-year quarter’s figure of $412.9 million, but beat our estimate of $350 million. Operating income amounted to $44.3 million compared with $76.3 million in the first quarter of 2025. The figure beat our operating income estimate of $37.1 million. Completion Services: This segment’s revenues of $679.6 million decreased about 11.3% from the year-ago quarter’s figure of $766.1 million. However, the metric beat our estimate of $644 million. Operating loss totaled $20.7 million compared with a loss of $18.8 million in the first quarter of 2025 and was narrower than our estimate of $22.7 million. Drilling Products: This segment’s revenues of $79.8 million decreased about 6.8% from the year-ago quarter’s figure of $85.7 million and missed our estimate of $82 million. Operating profit totaled $5.1 million, compared with a profit of $6.7 million in the first quarter of 2025. The number also beat our operating profit estimate of $1.4 million. Other Services: Revenues amounted to $6.2 million, down almost 61% from the year-ago quarter’s figure of $15.9 million, but beat our estimate of $4.8 million. Operating profit amounted to $2.1 million against a profit of $...

Oceaneering International, Inc. OII reported an adjusted profit of 30 cents per share for the first quarter of 2026, missing the Zacks Consensus Estimate of 35 cents. Moreover, the bottom line decreased from 43 cents in the year-ago quarter. This was due to lower operating income from its Offshore Projects Group and Integrity Management & Digital Solutions segments. Total revenues were $692.4 million, which beat the Zacks Consensus Estimate of $664 million and increased approximately 2.7% from the year-ago quarter’s $674.5 million, driven by higher revenues in the company’s Subsea Robotics, Manufactured Products and Aerospace and Defense Technologies segments. In the first quarter of 2026, the Houston, TX-based oil and gas equipment and services company reported adjusted EBITDA of $83.7 million, a 13.4% decrease year over year. Oceaneering International, Inc. price-consensus-eps-surprise-chart | Oceaneering International, Inc. Quote Subsea Robotics (SSR): The unit provides remotely operated submersible vehicles for drill support, vessel-based inspection, subsea hardware installation, pipeline surveys and maintenance services. Revenues totaled $214.3 million compared with the year-ago quarter’s $206 million. The segment also reported an operating income of $55.5 million compared with $59.6 million a year ago. The company’s segment delivered an EBITDA margin of 32% in the first quarter of 2026, decreasing from the prior-year period’s 35%. Revenue per day for remotely operated vehicles (“ROVs”) rose to $12,401, while ROV fleet utilization declined to 61%. Manufactured Products: The segment focuses on the manufactured products business, theme park entertainment systems and automated guided vehicles. Revenues totaled $143.6 million compared with the year-ago quarter’s $135 million. The segment posted an operating profit of $26.1 million in the first quarter, up from the year-ago quarter’s $8.7 million. The backlog totaled $492 million as of March 31, 2026, down 9.4% from the same time in 2025. For the 12 months ending March 31, 2026, the book-to-bill ratio was 0.91. Offshore Projects Group (OPG): This segment involves Oceaneering’s former Subsea Projects unit, excluding survey services and global data solutions, the service and rental business and ROV tooling. Revenues decreased about 17.9% to $135.4 million from $164.9 million in the year-ago quarter. The unit’s...

This article first appeared on GuruFocus. Free Cash Flow: Over $1.8 billion in Q1 2026, a record high for EQT. Net Debt: Reduced to just under $5.7 billion by the end of the quarter. Leverage: Below 1 times net debt to EBITDA. Senior Notes Retired: Over $1.7 billion during the quarter. Credit Rating: Upgraded to BBB by Fitch. Hedging Gains: Balance of year hedge book in the money by $180 million. Projected 2026 Free Cash Flow: Approximately $6 billion if LNG portfolio was fully online. Second Quarter Production Guidance: Includes 10 to 15 Bcf of curtailments. Capital Expenditure: Peak investment period in Q2, with declines expected in Q3 and Q4. Warning! GuruFocus has detected 3 Warning Sign with EQT. Is EQT fairly valued? Test your thesis with our free DCF calculator. Release Date: April 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. EQT Corp (NYSE:EQT) generated a record $1.8 billion in free cash flow in Q1 2026, matching the entire free cash flow of 2022. The company's leverage is now below 1 times net debt to EBITDA, with a long-term target of $5 billion net debt within reach by year-end. Operational performance was strong despite challenging weather conditions, with production exceeding the high end of guidance. EQT Corp (NYSE:EQT) is well-positioned to benefit from global demand for reliable LNG supply, with potential for significant free cash flow uplift. The company has a robust pipeline of demand projects, including data centers and power plants, which could drive future growth. US natural gas prices have remained stable despite global volatility, limiting immediate price benefits for EQT Corp (NYSE:EQT). The company's LNG contracts are not expected to begin until 2030, delaying potential benefits from current global price dynamics. There is uncertainty around the timing and completion of large-scale supply deals and infrastructure projects. EQT Corp (NYSE:EQT) faces challenges in accelerating access to international LNG markets before 2030. The company may need to curtail production strategically due to market conditions, impacting short-term output. Q: Toby, with LNG full, the US is back to an incremental cost of supply market. What can you do to improve your realizations, and can you accelerate your access to LNG on international markets given your current plan is post-2030? A: Toby R...

EQT Corporation (EQT) came out with quarterly earnings of $2.33 per share, beating the Zacks Consensus Estimate of $2.23 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.48%. A quarter ago, it was expected that this company would post earnings of $0.73 per share when it actually produced earnings of $0.9, delivering a surprise of +23.29%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. EQT, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $3.14 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.29%. This compares to year-ago revenues of $2.15 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. EQT shares have added about 6.3% since the beginning of the year versus the S&P 500's gain of 3.9%. While EQT has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for EQT was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy...