EQT Corporation (NYSE:EQT - Get Free Report) CEO Toby 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 completion of the sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at $118,747,310.95. This trade represents a 7.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
EQT Stock Up 0.3%
EQT stock opened at $53.18 on Wednesday. The company's 50 day simple moving average is $51.88 and its 200-day simple moving average is $56.51. The firm has a market capitalization of $33.27 billion, a PE ratio of 12.34 and a beta of 0.58. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67.
EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period last year, the business earned $0.45 earnings per share. The company's revenue for the quarter was down 29.2% on a year-over-year basis. Equities analysts expect that EQT Corporation will post 4.06 earnings per share for the current fiscal year.
EQT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT's payout ratio is 15.31%.
Institutional Trading of EQT
A number of institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in EQT by 1.0% during the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer's stock worth $1,022,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer's stock valued at $2,497,000 after purchasing an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of EQT by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer's stock valued at $392,000 after purchasing an additional 236 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its position in shares of EQT by 1.4% during the 2nd quarter. United Capital Financial Advisors LLC now owns 23,897 shares of the oil and gas producer's stock worth $1,271,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.
Analysts Set New Price Targets
EQT has been the topic of several recent research reports. Barclays reduced their price objective on EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their target price 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. UBS Group reduced their target price on shares of EQT from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Freedom Capital raised shares of EQT to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group decreased their price target on shares of EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $68.48.
Check Out Our Latest Research Report on EQT
EQT Company Profile
(
Get Free Report)
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.
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