Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>EQT Corporation's Q2 2025 results illustrate the company's operational proficiency and financial resilience, amid challenging market conditions characterized by lower natural gas prices.</li><li>During the quarter, EQT maintained impressive production levels at the high end of its guidance, attributed to exceptional well productivity and compression project performances.</li><li>The rigorous management of capital expenditures, which came in $50 million below the lower end of expectations, underscores EQT's operational efficiency and cost-control measures, driving significant cash flow despite an unfavorable legal settlement.</li></ul>

EQT Corporation's Q2 2025 results illustrate the company's operational proficiency and financial resilience, amid challenging market conditions characterized by lower natural gas prices.During the quarter, EQT maintained impressive production levels at the high end of its guidance, attributed to exceptional well productivity and compression project performances.The rigorous management of capital expenditures, which came in $50 million below the lower end of expectations, underscores EQT's operational efficiency and cost-control measures, driving significant cash flow despite an unfavorable legal settlement.

EQT Holdings: Expansion of Midstream Infrastructure Is A Critical Needle Mover For Their Growth!

<ul><li>EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price volatility.</li><li>The company reported robust production at the high end of its guidance, aided by effective well performance and minimal winter disruptions.</li><li>Tactics like increasing production during highdemand winter periods allowed EQT to benefit from favorable Appalachian pricing, significantly boosting its core differential.</li></ul>

EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price volatility.The company reported robust production at the high end of its guidance, aided by effective well performance and minimal winter disruptions.Tactics like increasing production during highdemand winter periods allowed EQT to benefit from favorable Appalachian pricing, significantly boosting its core differential.

EQT Corporation: Can Its Olympus Midstream & Strategic Integration Enhance Overall Market Competitiveness?

<ul><li>EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements.</li><li>A key highlight was the successful acquisition and integration of Equitrans, positioning EQT as America’s only large-scale integrated natural gas company.</li><li>The integration process is nearly complete with 90% of synergies realized to date, surpassing expectations.</li></ul>

EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements.A key highlight was the successful acquisition and integration of Equitrans, positioning EQT as America’s only large-scale integrated natural gas company.The integration process is nearly complete with 90% of synergies realized to date, surpassing expectations.

EQT Corporation: An Insight Into Its Market Dynamics and Commodity Price Outlook!

<ul><li>EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that have shaped its operations.</li><li>Toby Rice, President and CEO, and Jeremy Knop, CFO of EQT Corporation, detailed the impacts and outlook following their strategic acquisition of Equitrans Midstream.</li><li>This acquisition marks a pivotal transformation into a vertically-integrated natural gas business in America, aiming to solidify EQT’s unique position at the forefront of energy efficiency and cost-effectiveness.</li></ul>

EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that have shaped its operations.Toby Rice, President and CEO, and Jeremy Knop, CFO of EQT Corporation, detailed the impacts and outlook following their strategic acquisition of Equitrans Midstream.This acquisition marks a pivotal transformation into a vertically-integrated natural gas business in America, aiming to solidify EQT’s unique position at the forefront of energy efficiency and cost-effectiveness.

EQT Corporation: Initiation Of Coverage - An Insight Into Their Curtailed Production Strategy and Market Responsiveness! - Major Drivers

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.</li>
<li>Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.</li>
<li>The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).</li>
</ul>


Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.
Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.
The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).


ConocoPhillips/Marathon Oil and Shale Consolidation

United States

EQT Corporation is an integrated energy company with emphasis on Appalachian area natural-gas supply, transmission and distribution. The Company, through its subsidiaries, offer natural gas products to wholesale and retail customers.

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Eqt Corp (EQT US)

EQT Holdings: Expansion of Midstream Infrastructure Is A Critical Needle Mover For Their Growth!

EQT Corporation's Q2 2025 results illustrate the company's operational proficiency and financial resilience, amid challenging market conditions...

Baptista Research

EQT Corporation: Can Its Olympus Midstream & Strategic Integration Enhance Overall Market Competitiveness?

EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price...

Baptista Research

EQT Corporation: An Insight Into Its Market Dynamics and Commodity Price Outlook!

EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements. A key highlight was...

Baptista Research

EQT Corporation: Initiation Of Coverage - An Insight Into Their Curtailed Production Strategy and Market Responsiveness! - Major Drivers

EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that...

Baptista Research

ConocoPhillips/Marathon Oil and Shale Consolidation

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

EQT Holdings: Expansion of Midstream Infrastructure Is A Critical Needle Mover For Their Growth!

EQT Corporation's Q2 2025 results illustrate the company's operational proficiency and financial resilience, amid challenging market conditions...

Baptista Research

EQT Corporation: Can Its Olympus Midstream & Strategic Integration Enhance Overall Market Competitiveness?

EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price...

Baptista Research

EQT Corporation: An Insight Into Its Market Dynamics and Commodity Price Outlook!

EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements. A key highlight was...

Baptista Research

EQT Corporation: Initiation Of Coverage - An Insight Into Their Curtailed Production Strategy and Market Responsiveness! - Major Drivers

EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that...

Baptista Research

ConocoPhillips/Marathon Oil and Shale Consolidation

​Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...