National Pension Service Acquires 37,744 Shares of EQT Corporation $EQT

National Pension Service lifted its holdings in shares of EQT Corporation (NYSE:EQT) by 2.7% during the second quarter, Holdings Channel.com reports. The firm owned 1,412,717 shares of the oil and gas producer’s stock after acquiring an additional 37,744 shares during the quarter. National Pension Service’s holdings in EQT were worth $75,114,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the fourth quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in EQT during the 2nd quarter worth about $26,000. Community Bank N.A. grew its position in shares of EQT by 198.9% in the 2nd quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 348 shares during the last quarter. Wedbush Fund Advisers LLC increased its stake in shares of EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 413 shares during the period. Finally, Continuum Advisory LLC bought a new position in shares of EQT during the second quarter worth about $32,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial cut their price objective on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Zacks Research raised shares of EQT from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Barclays dropped their target price on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Jefferies Financial Group cut their price target on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity at EQT

In other news, CEO Toby Rice sold 175,328 shares of EQT stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

EQT Stock Down 1.6%

Shares of NYSE EQT opened at $54.08 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm has a market cap of $33.83 billion, a PE ratio of 12.55 and a beta of 0.58. The company’s fifty day simple moving average is $52.90 and its 200 day simple moving average is $56.20. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24.

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 analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was down 29.2% compared to the same quarter last year. As a group, sell-side analysts forecast that EQT Corporation will post 3.96 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is presently 15.31%.

EQT Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.