NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-08-31
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Create your account →Intact: The reason to own it still holds.
EQT is a low-cost natural gas producer with strong cash flow. It beat earnings in the last two quarters. The company aims for free cash flow above $3.5 billion in 2026. Capital spending is disciplined and production is on track.
Revenue is expected to decline about 5% next year. The sector faces headwinds and management is volatile. If gas prices fall or production weakens, cash flow could drop sharply.
The price is about 15% below our fair value near $60. Analysts expect revenue to decline about 5% next year. Our view is cautious but sees value if cash flow targets hold.
Breaks if: Capital expenditures exceed $2.21 billion or fall below $2.07 billion in FY26
Breaks if: Free cash flow falls below $3.5 billion in FY26
Breaks if: Sales volume falls below 618 Bcfe in Q1 2026
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
EQT represents a durable compounder in the energy sector. The current thesis state is intact, supported by robust earnings quality and a favorable sector backdrop, although recent earnings misses raise some caution.
The market currently prices EQT as cheap compared to its peers, with a low expectations gap. This suggests that investors may not expect significant growth in the near term, reflecting a low level of confidence in future performance.
Management is on track to achieve production guidance and maintain disciplined capital expenditures. However, free cash flow generation and balance sheet improvement are behind schedule, which could impact future performance.
The long-term thesis hinges on EQT's ability to maintain production guidance and manage capital expenditures effectively. Additionally, external factors like inflation trends and the performance of sector bellwethers will play a crucial role in shaping future outcomes.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. S&P raised its outlook on EQT due to debt reduction. This supports efforts to generate strong free cash flow and improve the balance sheet. However, the company missed earnings expectations in its latest report. This miss introduces uncertainty about future performance.
as of 2026-08-31
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Revenue declines more than 5.3% in FY26
Overall, EQT's fundamentals are solid, but recent earnings misses introduce some uncertainty. Not investment advice.
