EQT Co. (NYSE:EQT – Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 20,690,000 shares, a decrease of 8.2% from the November 15th total of 22,540,000 shares. Based on an average trading volume of 7,310,000 shares, the short-interest ratio is presently 2.8 days.
Insiders Place Their Bets
In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were 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. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in EQT. HM Payson & Co. acquired a new stake in EQT during the third quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of EQT in the 2nd quarter valued at about $28,000. Truvestments Capital LLC purchased a new stake in shares of EQT during the 3rd quarter worth about $30,000. Quarry LP increased its position in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in 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 valued at $33,000 after buying an additional 904 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.
EQT Stock Down 1.4 %
EQT (NYSE:EQT – Get Free Report) last posted 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 net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, equities research analysts anticipate that EQT will post 1.37 EPS for the current fiscal year.
EQT Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.43%. EQT’s dividend payout ratio is presently 75.00%.
Analyst Ratings Changes
A number of equities research analysts recently commented on EQT shares. UBS Group raised their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Citigroup increased their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $57.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.61.
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.
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