Montchanin Asset Management LLC Purchases New Position in EQT Co. (NYSE:EQT)

Montchanin Asset Management LLC acquired a new position in shares of EQT Co. (NYSE:EQT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,230 shares of the oil and gas producer’s stock, valued at approximately $602,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new position in shares of EQT during the 4th quarter worth about $30,000. Principal Securities Inc. purchased a new stake in shares of EQT in the fourth quarter worth approximately $51,000. EntryPoint Capital LLC bought a new stake in shares of EQT during the 1st quarter worth approximately $54,000. First United Bank & Trust purchased a new position in EQT during the 4th quarter valued at $69,000. Finally, Allworth Financial LP increased its stake in EQT by 72.1% in the fourth quarter. Allworth Financial LP now owns 2,292 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 960 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Down 2.7 %

NYSE:EQT traded down $0.92 during mid-day trading on Thursday, hitting $33.59. 8,138,888 shares of the company’s stock traded hands, compared to its average volume of 7,166,990. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $14.83 billion, a P/E ratio of 24.34 and a beta of 1.12. The company has a fifty day moving average of $37.78 and a 200 day moving average of $37.20. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm posted ($0.17) EPS. EQT’s revenue was down 6.5% on a year-over-year basis. On average, analysts forecast that EQT Co. will post 1.4 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.88%. EQT’s dividend payout ratio is currently 45.65%.

Insider Buying and Selling at EQT

In other EQT news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the transaction, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction 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 transaction, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Mizuho increased their price objective on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Truist Financial decreased their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. StockNews.com raised EQT to a “sell” rating in a research report on Friday, July 26th. Finally, Wolfe Research initiated coverage on EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.50.

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.