EQT Co. (NYSE:EQT) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its position in EQT Co. (NYSE:EQT) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,025 shares of the oil and gas producer’s stock after selling 1,575 shares during the period. New England Research & Management Inc.’s holdings in EQT were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in EQT. Wellington Management Group LLP lifted its stake in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. Modera Wealth Management LLC acquired a new position in shares of EQT in the 3rd quarter valued at $562,494,000. State Street Corp lifted its stake in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its stake in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the period. Finally, Holocene Advisors LP acquired a new position in shares of EQT in the 3rd quarter valued at $97,979,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Piper Sandler upped their price objective on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

EQT Trading Up 1.6 %

Shares of EQT opened at $50.68 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12-month low of $30.02 and a 12-month high of $54.85. The firm has a 50-day moving average price of $47.04 and a 200 day moving average price of $39.55. The firm has a market capitalization of $30.24 billion, a P/E ratio of 60.34 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that EQT Co. will post 1.42 EPS for the current year.

EQT 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.