Annapolis Financial Services LLC Sells 8,241 Shares of EQT Co. (NYSE:EQT)

Annapolis Financial Services LLC lessened its stake in shares of EQT Co. (NYSE:EQT) by 76.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,500 shares of the oil and gas producer’s stock after selling 8,241 shares during the period. Annapolis Financial Services LLC’s holdings in EQT were worth $93,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Private Wealth Management Group LLC purchased a new stake in shares of EQT during the fourth quarter valued at $30,000. BKM Wealth Management LLC acquired a new position in shares of EQT during the 4th quarter worth about $40,000. Principal Securities Inc. acquired a new position in shares of EQT during the 4th quarter worth about $51,000. Massmutual Trust Co. FSB ADV raised its position in shares of EQT by 52.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 539 shares during the last quarter. Finally, CX Institutional acquired a new stake in EQT in the 4th quarter valued at about $64,000. Institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EQT shares. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $37.00 price objective (down previously from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 price objective (up previously from $41.00) on shares of EQT in a research report on Tuesday, April 30th. Truist Financial lowered their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, BMO Capital Markets increased their price objective on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.24.

EQT Stock Performance

Shares of EQT stock traded down $0.30 during trading hours on Friday, reaching $36.98. The stock had a trading volume of 9,817,030 shares, compared to its average volume of 6,714,432. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23. The firm has a 50-day simple moving average of $39.87 and a 200-day simple moving average of $37.64. The firm has a market capitalization of $16.33 billion, a PE ratio of 26.80 and a beta of 1.06.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. EQT’s revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS. As a group, equities analysts forecast that EQT Co. will post 1.05 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, May 7th. EQT’s payout ratio is presently 45.65%.

Insider Activity at EQT

In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. Insiders own 0.63% 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.