EQT Co. (NYSE:EQT) Short Interest Update

EQT Co. (NYSE:EQT) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 19,330,000 shares, a decrease of 6.6% from the November 30th total of 20,690,000 shares. Based on an average daily trading volume, of 7,270,000 shares, the short-interest ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

EQT has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on EQT in a research report on Friday, December 6th. They set a “market perform” rating and a $50.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Stephens boosted their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $46.61.

EQT Trading Down 1.0 %

Shares of EQT stock opened at $46.11 on Thursday. The business has a 50-day moving average of $43.02 and a 200 day moving average of $37.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 1-year low of $30.02 and a 1-year high of $48.02. The stock has a market capitalization of $27.51 billion, a PE ratio of 54.89 and a beta of 1.14.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that EQT will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.37%. EQT’s payout ratio is presently 75.00%.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of EQT by 39.4% during the third quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer’s stock valued at $25,674,000 after acquiring an additional 198,227 shares in the last quarter. Retirement Systems of Alabama increased its position in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after purchasing an additional 35,733 shares during the period. Franklin Resources Inc. raised its holdings in EQT by 121.1% in the 3rd quarter. Franklin Resources Inc. now owns 316,945 shares of the oil and gas producer’s stock worth $11,600,000 after purchasing an additional 173,596 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of EQT in the 3rd quarter worth about $1,069,000. Finally, Tidal Investments LLC boosted its stake in shares of EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after purchasing an additional 21,789 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.