EFG International AG Takes $5.88 Million Position in EQT Corporation $EQT

EFG International AG purchased a new position in EQT Corporation (NYSE:EQT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 110,660 shares of the oil and gas producer’s stock, valued at approximately $5,883,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. Reaves W H & Co. Inc. increased its position in EQT by 12.9% during the 4th 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 buying an additional 132,741 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in EQT by 21.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock worth $9,988,000 after acquiring an additional 32,921 shares in the last quarter. BOKF NA boosted its holdings in EQT by 25.9% in the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock worth $7,417,000 after acquiring an additional 28,427 shares in the last quarter. Allstate Corp boosted its holdings in EQT by 114.0% in the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock worth $2,601,000 after acquiring an additional 25,852 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of 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 worth $31,253,000 after acquiring an additional 48,587 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Up 0.4%

EQT stock opened at $54.00 on Wednesday. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 12.53 and a beta of 0.58. The stock has a fifty day simple moving average of $52.10 and a two-hundred day simple moving average of $56.44. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts predict that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s payout ratio is 15.31%.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EQT shares. Zacks Research downgraded EQT from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Barclays dropped their price target on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Truist Financial cut their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.10.

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.