Pacer Advisors Inc. boosted its stake in EQT Co. (NYSE:EQT – Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,291,902 shares of the oil and gas producer’s stock after purchasing an additional 383,885 shares during the period. Pacer Advisors Inc. owned about 1.19% of EQT worth $176,526,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EQT. Sciencast Management LP acquired a new position in EQT in the 2nd quarter valued at approximately $377,000. Maltin Wealth Management Inc. acquired a new position in EQT in the 2nd quarter valued at approximately $275,000. Monterey Private Wealth Inc. acquired a new position in EQT in the 2nd quarter valued at approximately $225,000. AE Wealth Management LLC acquired a new position in EQT in the 2nd quarter valued at approximately $2,342,000. Finally, Moody National Bank Trust Division increased its position in EQT by 1.1% in the 2nd quarter. Moody National Bank Trust Division now owns 36,013 shares of the oil and gas producer’s stock valued at $1,481,000 after acquiring an additional 405 shares during the period. Institutional investors own 99.44% of the company’s stock.
Analyst Ratings Changes
EQT has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of EQT from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. Jefferies Financial Group increased their price objective on shares of EQT from $46.00 to $49.00 in a research report on Friday, July 7th. Tudor, Pickering, Holt & Co. upgraded shares of EQT from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Mizuho decreased their price objective on shares of EQT from $52.00 to $47.00 and set a “buy” rating for the company in a research report on Monday. Finally, Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, September 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $49.71.
EQT Stock Up 0.1 %
Shares of EQT stock traded up $0.06 during trading hours on Tuesday, reaching $41.25. The company’s stock had a trading volume of 1,434,425 shares, compared to its average volume of 6,317,175. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day simple moving average is $41.90 and its two-hundred day simple moving average is $37.23. EQT Co. has a one year low of $28.10 and a one year high of $48.07. The company has a market capitalization of $14.92 billion, a P/E ratio of 4.63, a P/E/G ratio of 1.00 and a beta of 1.22.
EQT (NYSE:EQT – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.09. EQT had a net margin of 38.44% and a return on equity of 10.61%. The company had revenue of $993.08 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $0.83 earnings per share. The firm’s revenue was down 38.4% on a year-over-year basis. On average, research analysts forecast that EQT Co. will post 2.15 earnings per share for the current year.
EQT Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, August 8th. EQT’s payout ratio is currently 6.75%.
Insider Activity at EQT
In related news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the transaction, the insider now directly owns 23,946,108 shares of the company’s stock, valued at $991,368,871.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.
EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.
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