EQT (NYSE:EQT) CEO Toby Rice Sells 96,983 Shares

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 96,983 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the completion of the sale, the chief executive officer owned 2,334,924 shares in the company, valued at $126,739,674.72. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a 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.

EQT Price Performance

Shares of NYSE:EQT traded down $0.30 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 current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24. The business has a 50 day moving average of $57.94 and a 200 day moving average of $57.70. The company has a market cap of $32.95 billion, a PE ratio of 10.00 and a beta of 0.55.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same quarter in the previous year, the business posted $1.18 earnings per share. As a group, equities analysts anticipate that EQT Corporation will post 4.7 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s payout ratio is currently 12.52%.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of analyst reports. Stephens cut their price objective on shares of EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings raised shares of EQT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Roth Mkm reiterated a “neutral” rating on shares of EQT in a research report on Tuesday, April 14th. UBS Group reduced their target price on EQT from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reduced their target price on EQT from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Two 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’s stock. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus target price of $68.83.

Hedge Funds Weigh In On EQT

Several large investors have recently added to or reduced their stakes in EQT. Reaves W H & Co. Inc. lifted its position in EQT by 213.3% during the third quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after buying an additional 700,732 shares during the period. Sound Shore Management Inc CT lifted its position in EQT by 31.8% during the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after buying an additional 368,748 shares during the period. SG Americas Securities LLC raised its holdings in shares of EQT by 228.5% in the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock worth $27,746,000 after purchasing an additional 360,049 shares during the period. KTF Investments LLC purchased a new position in shares of EQT in the 4th quarter worth about $8,885,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of EQT by 495.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.