Bedell Frazier Investment Counselling LLC Takes $1.93 Million Position in EQT Co. (NYSE:EQT)

Bedell Frazier Investment Counselling LLC purchased a new stake in shares of EQT Co. (NYSE:EQT) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 41,907 shares of the oil and gas producer’s stock, valued at approximately $1,932,000.

Several other large investors have also recently bought and sold shares of the business. D L Carlson Investment Group Inc. increased its holdings in shares of EQT by 3.3% in the 4th quarter. D L Carlson Investment Group Inc. now owns 92,896 shares of the oil and gas producer’s stock valued at $4,283,000 after purchasing an additional 2,984 shares during the period. O Shaughnessy Asset Management LLC grew its position in EQT by 79.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 31,102 shares of the oil and gas producer’s stock valued at $1,434,000 after purchasing an additional 13,803 shares in the last quarter. Clearbridge Investments LLC increased its stake in EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock valued at $637,698,000 after buying an additional 1,774,696 shares during the period. California Public Employees Retirement System lifted its position in EQT by 17.0% in the 4th quarter. California Public Employees Retirement System now owns 896,146 shares of the oil and gas producer’s stock worth $41,321,000 after buying an additional 129,917 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in EQT in the 4th quarter worth approximately $211,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Up 1.4 %

Shares of EQT stock opened at $53.07 on Monday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $31.71 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The stock has a 50 day moving average of $51.38 and a 200-day moving average of $45.02.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EQT shares. UBS Group upped their price target on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Truist Financial upped their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $55.11.

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.