Pittsburgh, Pennsylvania-based EQT Corporation (EQT) explores and produces natural gas, with a primary focus on the Appalachian Basin in Ohio, Pennsylvania and West Virginia. Valued at $26.6 billion by market cap, EQT sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through its pipelines.

Companies worth $10 billion or more are generally described as "large-cap stocks," EQT fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the energy sector. Alongside the company also provides marketing services and contractual pipeline capacity management services.

The stock touched its two-year high of $48.02 on Nov. 21 and is currently trading 7.2% below that peak. EQT stock has soared 25.1% over the past three months, significantly outpacing the Nasdaq Composite’s ($NASX) 10.3% surge during the same time frame.

However, over the longer term, EQT’s performance has remained grim. While EQT gained 15.7% over the past six months slightly outpacing NASX’s 14.5% gains during the same time frame, its 15.3% gains over the past 52 weeks significantly lagged behind NASX’s 33.6% surge over the past year.

To confirm the recent upturn, EQT has consistently traded above its 50-day moving average since mid-September and above its 200-day moving average since late September with some fluctuations.

EQT stock prices soared 3.4% in the trading session after the release of its Q3 earnings on Oct. 29 as its adjusted EPS of $0.12 significantly exceeded analysts’ estimates of $0.05. Furthermore, EQT improved its Q4 sales volume guidance which heightened investor confidence. Meanwhile, its total operating revenues grew over 8.2% year-over-year to $1.3 billion, driven primarily by increase in pipeline and marketing services revenues.

However, it's not all rainbows and sunshine. Its operating expenses surged by 33.8% year-over-year, amounting to $1.6 billion due to higher spending on SG&A, operating and maintenance, depreciation, and other expenses. This led to an operating loss of $281.8 million for the quarter, a sharp decline from the $15.8 million operating profit reported in the year-ago quarter.

EQT has substantially outperformed its peer EOG Resources, Inc.’s (EOG) 3.6% dip over the past six months and a 1.2% decline over the past year.

Among the 22 analysts covering the stock, the consensus rating is a “Moderate Buy.” Its mean price target of $48.13 represents 8% premium to current price levels.