EQT (NYSE:EQT) Sets New 1-Year Low – Should You Sell?

EQT Corporation (NYSE:EQT) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $48.47 and last traded at $48.4990, with a volume of 1955439 shares changing hands. The stock had previously closed at $50.15.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EQT shares. Barclays boosted their price target on EQT from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $69.00 target price on shares of EQT in a research report on Wednesday, April 15th. Morgan Stanley lowered their target price on EQT from $74.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Stephens dropped their target price on shares of EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, Truist Financial reduced their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.21.

EQT Stock Down 4.3%

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $30.01 billion, a P/E ratio of 9.13 and a beta of 0.55. The stock has a 50 day moving average price of $54.31 and a 200 day moving average price of $56.76.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company posted $1.18 EPS. On average, research analysts anticipate that EQT Corporation will post 4.4 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s dividend payout ratio (DPR) is presently 12.52%.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,116 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Toby Z. Rice sold 1,731 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This represents a 0.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 102,830 shares of company stock worth $5,602,913. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On EQT

Several large investors have recently modified their holdings of EQT. Reaves W H & Co. Inc. raised its stake in shares of EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the last quarter. Whittier Trust Co. grew its stake in shares of EQT by 9.6% in the first quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock worth $38,857,000 after purchasing an additional 56,149 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in EQT by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after purchasing an additional 48,587 shares during the period. SG Americas Securities LLC increased its holdings in EQT by 228.5% in the fourth quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock valued at $27,746,000 after purchasing an additional 360,049 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in EQT by 5.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 302,193 shares of the oil and gas producer’s stock valued at $18,252,000 after purchasing an additional 16,051 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.