Park Avenue Securities LLC Has $900,000 Stock Holdings in EQT Co. (NYSE:EQT)

Park Avenue Securities LLC increased its position in EQT Co. (NYSE:EQT – Free Report) by 16.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,212 shares of the oil and gas producer’s stock after buying an additional 3,894 shares during the quarter. Park Avenue Securities LLC’s holdings in EQT were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in EQT by 19.8% in the 3rd quarter. Vanguard Group Inc. now owns 38,038,225 shares of the oil and gas producer’s stock valued at $1,550,057,000 after acquiring an additional 6,293,070 shares during the period. Capital World Investors acquired a new position in EQT during the 1st quarter worth about $497,156,000. Clearbridge Investments LLC grew its position in shares of EQT by 6.3% in the 4th quarter. Clearbridge Investments LLC now owns 12,190,616 shares of the oil and gas producer’s stock valued at $412,409,000 after buying an additional 718,040 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EQT by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 7,769,994 shares of the oil and gas producer’s stock valued at $262,420,000 after buying an additional 253,502 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of EQT by 6,029.6% during the first quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock worth $221,059,000 after acquiring an additional 6,319,457 shares during the last quarter. Institutional investors own 92.95% of the company’s stock.

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EQT Stock Performance

Shares of EQT stock opened at $40.71 on Tuesday. The company has a market cap of $14.72 billion, a PE ratio of 3.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.20. EQT Co. has a 52 week low of $28.10 and a 52 week high of $51.97. The business has a 50 day moving average price of $36.33 and a 200-day moving average price of $33.95. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.42.

EQT (NYSE:EQT – Free Report) last announced its earnings results on Wednesday, April 26th. The oil and gas producer reported $1.70 EPS for the quarter, beating the consensus estimate of $1.32 by $0.38. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. EQT had a net margin of 41.96% and a return on equity of 15.17%. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. Equities analysts anticipate that EQT Co. will post 2.47 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Wednesday, May 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, May 9th. EQT’s payout ratio is 5.33%.

Insider Activity at EQT

In related news, CAO Todd James sold 31,170 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.56, for a total transaction of $1,201,915.20. Following the completion of the sale, the chief accounting officer now directly owns 39,392 shares of the company’s stock, valued at $1,518,955.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial upped their target price on EQT from $28.00 to $37.00 in a report on Monday, May 1st. Piper Sandler increased their price objective on shares of EQT from $50.00 to $53.00 in a research report on Friday, April 28th. Wells Fargo & Company upped their price target on shares of EQT from $39.00 to $46.00 in a research report on Friday. UBS Group began coverage on EQT in a report on Wednesday, April 19th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Morgan Stanley decreased their target price on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, March 27th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.67.

About EQT

(Free Report)

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.

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