Keybank National Association OH Invests $230,000 in EQT Co. (NYSE:EQT)

Keybank National Association OH acquired a new position in shares of EQT Co. (NYSE:EQT – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,211 shares of the oil and gas producer’s stock, valued at approximately $230,000.

A number of other large investors have also modified their holdings of EQT. Capital World Investors purchased a new stake in shares of EQT during the first quarter worth $497,156,000. Renaissance Technologies LLC increased 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 period. PointState Capital LP purchased a new stake in shares of EQT during the first quarter worth $163,646,000. Clearbridge Investments LLC increased its position in shares of EQT by 66.1% during the first quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock worth $382,493,000 after acquiring an additional 4,423,003 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of EQT by 1,160.9% during the fourth quarter. Neuberger Berman Group LLC now owns 2,123,265 shares of the oil and gas producer’s stock worth $71,830,000 after acquiring an additional 1,954,877 shares during the period. Hedge funds and other institutional investors own 92.95% of the company’s stock.

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Insider Buying and Selling

In other EQT news, CAO Todd James sold 31,170 shares of EQT stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.56, for a total value of $1,201,915.20. Following the sale, the chief accounting officer now owns 39,392 shares of the company’s stock, valued at approximately $1,518,955.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

EQT has been the topic of several recent analyst reports. Truist Financial increased their target price on EQT from $34.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 17th. UBS Group increased their target price on EQT from $39.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Wells Fargo & Company increased their target price on EQT from $39.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, June 30th. Mizuho increased their target price on EQT from $48.00 to $52.00 in a report on Friday, May 19th. Finally, Tudor, Pickering, Holt & Co. raised EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.59.

Check Out Our Latest Research Report on EQT

EQT Stock Performance

NYSE EQT opened at $41.70 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.35. EQT Co. has a 52-week low of $28.10 and a 52-week high of $51.97. The business’s 50-day moving average price is $40.99 and its 200 day moving average price is $35.85. The firm has a market cap of $15.08 billion, a P/E ratio of 4.69, a P/E/G ratio of 1.04 and a beta of 1.22.

EQT (NYSE:EQT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $993.08 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $0.83 earnings per share. The business’s revenue was down 38.4% on a year-over-year basis. On average, equities research analysts expect that EQT Co. will post 2.15 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 9th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, August 8th. EQT’s dividend payout ratio is currently 6.75%.

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.

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