Assenagon Asset Management S.A. Raises Stock Position in EQT Co. (NYSE:EQT)

Assenagon Asset Management S.A. lifted its holdings in EQT Co. (NYSE:EQT) by 216.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,397,551 shares of the oil and gas producer’s stock after acquiring an additional 956,495 shares during the period. Assenagon Asset Management S.A.’s holdings in EQT were worth $64,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HM Payson & Co. bought a new position in EQT in the 3rd quarter worth approximately $25,000. Truvestments Capital LLC bought a new stake in shares of EQT during the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares in the last quarter. Quarry LP boosted its position in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in EQT during the third quarter valued at $36,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Monday, January 6th. Truist Financial lifted their price objective on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday. BMO Capital Markets increased their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Bank of America began coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Stock Performance

Shares of EQT stock opened at $52.38 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $45.09 and its two-hundred day moving average is $38.45. EQT Co. has a 52 week low of $30.02 and a 52 week high of $53.00. The company has a market capitalization of $31.25 billion, a PE ratio of 62.36 and a beta of 1.12.

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

EQT Company Profile

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.