EQT (NYSE:EQT) CEO Sells $92,539.26 in Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 1,731 shares of the business’s stock in a transaction on Monday, June 8th. The stock was 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 approximately $124,732,497.78. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Stock Down 0.6%

Shares of EQT traded down $0.30 during trading hours on Tuesday, hitting $52.69. The company had a trading volume of 5,707,127 shares, compared to its average volume of 8,884,794. The company has a market capitalization of $32.95 billion, a PE ratio of 10.00 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT Corporation has a one year low of $48.47 and a one year high of $68.24. The company’s fifty day moving average price is $57.94 and its two-hundred day moving average price is $57.70.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.18 EPS. As a group, equities analysts forecast that EQT Corporation will post 4.7 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, May 6th. EQT’s payout ratio is 12.52%.

Analyst Upgrades and Downgrades

EQT has been the topic of several research analyst reports. TD Securities upgraded EQT to a “strong-buy” rating in a research note on Friday, February 20th. Citigroup boosted their target price on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Stephens dropped their target price on EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Evercore boosted their target price on EQT from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Capital One Financial boosted their target price on EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EQT. Caxton Associates LLP acquired a new position in shares of EQT in the first quarter valued at about $256,000. Focus Partners Wealth increased its holdings in shares of EQT by 9.0% in the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock valued at $1,156,000 after purchasing an additional 1,789 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of EQT by 495.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after purchasing an additional 106,545 shares during the period. Captrust Financial Advisors increased its holdings in shares of EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock valued at $1,786,000 after purchasing an additional 8,658 shares during the period. Finally, Reaves W H & Co. Inc. increased its holdings in shares of EQT by 213.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock valued at $56,021,000 after purchasing an additional 700,732 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

About EQT

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.