abrdn plc Sells 15,913 Shares of EQT Co. (NYSE:EQT)

abrdn plc trimmed its stake in EQT Co. (NYSE:EQT) by 20.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 63,173 shares of the oil and gas producer’s stock after selling 15,913 shares during the quarter. abrdn plc’s holdings in EQT were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EQT. PNC Managed Account Solutions Inc. bought a new stake in EQT in the second quarter worth $32,000. Capital Analysts LLC bought a new stake in EQT in the first quarter worth $74,000. Rockefeller Capital Management L.P. boosted its holdings in EQT by 20.1% in the first quarter. Rockefeller Capital Management L.P. now owns 4,958 shares of the oil and gas producer’s stock worth $92,000 after acquiring an additional 831 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in EQT by 121.0% in the first quarter. Advisors Asset Management Inc. now owns 8,538 shares of the oil and gas producer’s stock worth $159,000 after acquiring an additional 4,675 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new stake in EQT in the first quarter worth $186,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

EQT stock opened at $19.99 on Friday. The stock has a market cap of $5.58 billion, a PE ratio of -3.56, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.59 and a current ratio of 0.59. EQT Co. has a one year low of $12.27 and a one year high of $23.24. The stock has a fifty day moving average of $18.86 and a 200 day moving average of $19.59.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 27th. The oil and gas producer reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The firm had revenue of $996.88 million for the quarter, compared to analysts’ expectations of $1 billion. EQT had a positive return on equity of 0.67% and a negative net margin of 28.97%. As a group, sell-side analysts predict that EQT Co. will post 0.48 EPS for the current fiscal year.

In other news, CEO Toby Z. Rice purchased 28,000 shares of the stock in a transaction on Monday, August 2nd. The shares were acquired at an average price of $17.83 per share, with a total value of $499,240.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by insiders.

Several research firms have recently weighed in on EQT. Truist Securities boosted their price target on EQT from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. Citigroup began coverage on EQT in a research note on Monday, August 30th. They issued a “buy” rating and a $23.00 price target for the company. Mizuho decreased their price target on EQT from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 13th. Credit Suisse Group decreased their price target on EQT from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, July 29th. Finally, Morgan Stanley cut EQT from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $22.00 to $24.00 in a research note on Friday, June 18th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.43.

EQT Profile

EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

Recommended Story: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Co. (NYSE:EQT).

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.