EQT
EQT CorpEvidence as of 2026-09-25The desk's Snapshot
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Overview · EQT Corp
EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play. The company was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.
Management team
- Ms. Sarah Fenton · Executive Vice President of UpstreamFind on LinkedIn
- Mr. Todd M. James · Chief Accounting OfficerFind on LinkedIn
- Mr. J. E.B. Bolen · Executive Vice President of OperationsFind on LinkedIn
- Mr. Robert R. Wingo · Executive Vice President of Corporate Ventures & MidstreamFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.6 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is cautious (‑0.6 of a possible +2; confidence high). Revenues declined from 3,378,736,000 USD in Q1 2026 (fiscal quarter ended 2026-04-14) to 1,809,944,000 USD in Q2 2026 (fiscal quarter ended 2026-07-14), a quarter-to-quarter drop of 1,568,792,000 USD. Operating income fell from 2,035,962,000 USD to 394,038,000 USD (a decrease of 1,641,924,000 USD) and net income dropped from 1,487,229,000 USD to 211,425,000 USD (a decrease of 1,275,804,000 USD); diluted EPS moved from 2.36 USD/share to 0.34 USD/share across those same quarters.
Balance-sheet items show long-term debt declining from 7,800,328,000 USD as of 2025-12-31 to 5,655,714,000 USD as of 2026-06-30 while stockholders' equity rose from 23,752,677,000 USD to 25,258,876,000 USD over the same interval. Trailing twelve‑month FCF is 5,487,238,900 USD (FCF/sh 8.7231, price/FCF 5.95 at price 51.87), trailing EBITDA is 6,823,483,000 USD (EV/EBITDA 5.57 on EV 37,988,365,920 USD), and net cash reported was 112,863,000 USD as of 2026-06-30, implying material net debt versus market capitalization of 32,445,514,920 USD.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues were 3,378,736,000 USD in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and 1,809,944,000 USD in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), showing a quarter-to-quarter decline of 1,568,792,000 USD.
XBRL companyfacts · 0000033213-26-000030Operating income was 2,035,962,000 USD in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and 394,038,000 USD in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo), a quarter-to-quarter decrease of 1,641,924,000 USD.
XBRL companyfacts · 0000033213-26-000030Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 18 February 2026 adds a risk that significant portions of EQT's natural gas production are dependent on a small number of key compression and processing stations and that an operational issue at any of those stations would materially impact production, cash flows and results of operation.
10-K filed 2026-02-18The 10-K filed 18 February 2026 adds a risk that significant portions of EQT's transmission and storage systems have been in service for several decades, and that the age and condition of these systems could result in adverse events, increased maintenance or repair expenditures, downtime, or related loss of revenue.
10-K filed 2026-02-18Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
BlackRock, Inc. reported $3.20B in 13F-reported holdings of EQT as of the 13F period ended 2026-06-30.
13F holdings · 1117 filers · as of 2026-06-30VANGUARD CAPITAL MANAGEMENT LLC reported $2.17B and STATE STREET CORP reported $2.11B in 13F-reported holdings of EQT as of the 13F period ended 2026-06-30.
13F holdings · 1117 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Coverage reported that a subsidiary of the company was selected by UAB Ignitis to supply liquefied natural gas under a long‑term contract running from 2027 to 2036.
News · simplywall.st · 2026-09-23Press coverage noted that the company is a joint buyer with Blackstone in Platinum Equity's sale of global environmental services business Urbaser in a transaction valued at approximately $6.6 billion.
News · prnewswire.com · 2026-09-22Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model shows an implied free cash flow growth rate of -17.91% (the FCF growth rate today's price would justify under the stated discount and terminal assumptions).
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month free cash flow is $5,487,238,900 and free cash flow per share is $8.7231, with price to FCF of 5.95 at the price $51.87.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly support a favorable read: reported trailing free cash flow and EBITDA multiples (valuation-1, valuation-2, valuation-3) indicate the company generated substantial cash and shows relatively low valuation multiples (strong quantitative evidence). Balance-sheet improvements — material declines in long-term debt (fundamentals-6) and rising stockholders' equity (fundamentals-7) — are concrete filings-based changes that strengthen financial flexibility (strong evidence). Institutional ownership data (ownership-0, ownership-1, ownership-2) and multiple positive news items including a long‑term LNG supply contract and strategic transaction involvement (news-0, news-1) provide corroborating market and strategic signals (moderate evidence). These points mitigate some negative quarterly P&L swings (fundamentals-0 through fundamentals-3) by showing sustained cash generation, capital structure improvement, and broad institutional backing (mixed strength: operational quarter-to-quarter declines are factual but contextual balance-sheet and cash-flow metrics are strong).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.38
31 surviving claims rest on 13 distinct sources; the heaviest analyst carries 29% of them, and 97% of what the desk raised survived the debate.
The set of surviving claims rests on a moderate number of distinct sources but a fairly high share of claims come from a small number of contributors, so the read is somewhat concentrated and sensitive to those sources. The fact that 97% of raised points survived the desk debate suggests low pushback internally, which increases the weight given to these claims but also means fewer internal challenges were recorded to catch errors or alternative interpretations.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer−0.2 to the score
4 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.0 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.8 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on EQT Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.