Commonwealth Equity Services LLC increased its stake in EQT Co. (NYSE:EQT – Free Report) by 199.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,420 shares of the oil and gas producer’s stock after acquiring an additional 56,916 shares during the quarter. Commonwealth Equity Services LLC’s holdings in EQT were worth $2,725,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc boosted its position in shares of EQT by 12.7% during the 4th quarter. CIBC Asset Management Inc now owns 52,750 shares of the oil and gas producer’s stock worth $1,785,000 after purchasing an additional 5,945 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in EQT by 14.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,043 shares of the oil and gas producer’s stock valued at $2,099,000 after acquiring an additional 7,930 shares during the period. Zullo Investment Group Inc. increased its holdings in shares of EQT by 258.6% during the fourth quarter. Zullo Investment Group Inc. now owns 1,040 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 750 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of EQT during the first quarter worth approximately $707,000. Finally, Assetmark Inc. bought a new position in shares of EQT in the 1st quarter worth $1,014,000. 99.44% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on EQT. Truist Financial raised their price objective on shares of EQT from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 17th. StockNews.com started coverage on EQT in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Mizuho upped their price target on EQT from $48.00 to $52.00 in a report on Friday, May 19th. Tudor Pickering raised EQT from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of EQT from $45.00 to $44.00 in a report on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.76.
Insider Buying and Selling
In other news, CAO Todd James sold 31,170 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 39,392 shares in the company, valued at $1,518,955.52. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.
EQT Stock Down 2.3 %
Shares of NYSE EQT opened at $43.21 on Wednesday. The business’s fifty day moving average price is $41.54 and its 200-day moving average price is $36.62. EQT Co. has a one year low of $28.10 and a one year high of $51.97. The stock has a market capitalization of $15.63 billion, a PE ratio of 4.86, a P/E/G ratio of 1.12 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 1.11.
EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.09. EQT had a net margin of 38.44% and a return on equity of 10.61%. The company had revenue of $993.08 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was down 38.4% compared to the same quarter last year. On average, equities research analysts anticipate that EQT Co. will post 2.04 EPS for the current year.
EQT Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 9th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Tuesday, August 8th. EQT’s dividend payout ratio (DPR) is presently 6.75%.
EQT Company Profile
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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