- EQT Corp. (NYSE:EQT) ended regular trading with a 4.2% gain despite Q2 results that saw the oil and gas company missing analyst projections with its earnings and revenues.
- The shortfall was primarily in the E&P segment, where earnings were hurt by a higher basis differential and modestly lower than expected production.
- Reiterating its Buy rating, Maxim Group attributes the gain to EQT's update on the internal valuation of its general partner ownership in EQT Midstream Partners (NYSE:EQM) and its intent to explore options for capturing the value; the firm also cites EQT's increase in its Marcellus net acreage to 580K from 560K. Maxim reiterates its Buy rating and $135 price target on EQT (Briefing.com).