Jump Financial LLC Buys Shares of 13,537 EQT Co. (NYSE:EQT)

Posted by Defense World Staff on Aug 8th, 2023

Jump Financial LLC bought a new position in EQT Co. (NYSE:EQT – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 13,537 shares of the oil and gas producer’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EQT. Ahrens Investment Partners LLC bought a new position in EQT in the first quarter valued at $29,000. City Holding Co. purchased a new position in shares of EQT during the 1st quarter valued at about $32,000. Zullo Investment Group Inc. lifted its position in EQT by 258.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,040 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 750 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in EQT in the third quarter worth approximately $41,000. Finally, Huntington National Bank grew its position in EQT by 569.5% during the fourth quarter. Huntington National Bank now owns 1,339 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 1,139 shares during the last quarter. 92.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EQT

In other news, CAO Todd James sold 31,170 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $38.56, for a total transaction of $1,201,915.20. Following the sale, the chief accounting officer now owns 39,392 shares in the company, valued at $1,518,955.52. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.

EQT Price Performance

Shares of EQT opened at $42.16 on Tuesday. EQT Co. has a fifty-two week low of $28.10 and a fifty-two week high of $51.97. The firm’s 50-day simple moving average is $39.44 and its two-hundred day simple moving average is $34.92. The stock has a market cap of $15.25 billion, a PE ratio of 4.74, a price-to-earnings-growth ratio of 1.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11.

EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.09. EQT had a return on equity of 10.61% and a net margin of 38.44%. The company had revenue of $993.08 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. Analysts anticipate that EQT Co. will post 2.09 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 9th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, August 8th. EQT’s dividend payout ratio (DPR) is 6.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EQT. Jefferies Financial Group boosted their target price on EQT from $46.00 to $49.00 in a research note on Friday, July 7th. JPMorgan Chase & Co. decreased their target price on shares of EQT from $45.00 to $44.00 in a research note on Wednesday, June 28th. Piper Sandler increased their price target on shares of EQT from $50.00 to $53.00 in a research report on Friday, April 28th. Mizuho boosted their price objective on shares of EQT from $48.00 to $52.00 in a research report on Friday, May 19th. Finally, Morgan Stanley dropped their target price on shares of EQT from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.88.

View Our Latest Research Report on EQT

EQT Profile

(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.