EQT (NYSE:EQT) Shares Down 0.4%

EQT Co. (NYSE:EQT) fell 0.4% during trading on Wednesday . The company traded as low as $31.01 and last traded at $31.02. 1,636,966 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 7,192,736 shares. The stock had previously closed at $31.15.

Analyst Ratings Changes

A number of brokerages have issued reports on EQT. Jefferies Financial Group increased their price objective on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Mizuho boosted their price target on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Truist Financial reduced their price objective on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Scotiabank boosted their target price on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.78.

EQT Stock Performance

The stock has a 50 day moving average of $36.22 and a 200 day moving average of $36.95. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 22.48 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. As a group, analysts predict that EQT Co. will post 1.4 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.00%. EQT’s payout ratio is presently 45.65%.

Insider Buying and Selling

In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in EQT by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after buying an additional 18,804 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of EQT by 421.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock worth $2,509,000 after acquiring an additional 52,443 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of EQT by 162.4% in the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after purchasing an additional 32,409 shares during the last quarter. National Bank of Canada FI lifted its position in shares of EQT by 600.0% during the fourth quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock valued at $3,731,000 after purchasing an additional 82,176 shares in the last quarter. Finally, Third Point LLC purchased a new position in EQT during the fourth quarter worth about $75,387,000. 90.81% of the stock is owned by institutional investors.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.