EQT (NYSE:EQT) Announces Quarterly Earnings Results

EQT (NYSE:EQT) posted its earnings results on Tuesday. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12, Briefing.com reports. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS.

EQT Stock Performance

NYSE EQT traded up $0.21 on Thursday, reaching $35.31. 4,333,861 shares of the stock were exchanged, compared to its average volume of 7,089,871. EQT has a one year low of $32.07 and a one year high of $45.23. The firm has a market capitalization of $15.59 billion, a PE ratio of 25.43 and a beta of 1.12. The company’s 50-day simple moving average is $38.58 and its two-hundred day simple moving average is $37.34. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Wall Street Analyst Weigh In

Several research firms have issued reports on EQT. JPMorgan Chase & Co. upgraded shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Tuesday. Stephens lowered their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Wolfe Research initiated coverage on shares of EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Insiders Place Their Bets

In other EQT 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 sale, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other EQT news, EVP William E. Jordan sold 35,000 shares of the 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 completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lesley Evancho sold 46,884 shares of the 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 sale, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

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.