EQT Co. (NYSE:EQT) Sees Large Growth in Short Interest

EQT Co. (NYSE:EQTGet Rating) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 22,010,000 shares, an increase of 7.9% from the August 15th total of 20,390,000 shares. Based on an average daily trading volume, of 7,170,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Kestra Advisory Services LLC increased its holdings in shares of EQT by 32.7% during the first quarter. Kestra Advisory Services LLC now owns 17,140 shares of the oil and gas producer’s stock valued at $590,000 after purchasing an additional 4,223 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of EQT during the first quarter valued at $222,000. Martingale Asset Management L P acquired a new position in shares of EQT during the first quarter valued at $424,000. Csenge Advisory Group acquired a new position in shares of EQT during the first quarter valued at $294,000. Finally, Advisor Partners LLC increased its holdings in shares of EQT by 3.5% during the first quarter. Advisor Partners LLC now owns 19,492 shares of the oil and gas producer’s stock valued at $671,000 after purchasing an additional 656 shares during the period. 95.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup reiterated a “buy” rating and set a $48.00 target price on shares of EQT in a research note on Thursday, July 21st. Bank of America increased their target price on EQT from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Monday. TD Securities increased their target price on EQT from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, September 9th. Wells Fargo & Company increased their target price on EQT from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 11th. Finally, Royal Bank of Canada increased their target price on EQT from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, September 9th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.88.

EQT Stock Performance

EQT stock opened at $47.34 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of -17.40, a PEG ratio of 0.20 and a beta of 1.15. EQT has a 1 year low of $17.95 and a 1 year high of $51.97. The stock’s fifty day moving average is $44.87 and its two-hundred day moving average is $40.43.

EQT (NYSE:EQTGet Rating) last posted its earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. The business’s quarterly revenue was up 61.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, research analysts predict that EQT will post 4.02 EPS for the current year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 9th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. This is a boost from EQT’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 8th. EQT’s dividend payout ratio (DPR) is presently -22.06%.

EQT Company Profile

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EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

Further Reading

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