35,181 Shares in EQT Corporation $EQT Acquired by First American Bank

First American Bank bought a new stake in shares of EQT Corporation (NYSE:EQT) during the 3rd quarter, HoldingsChannel reports. The firm bought 35,181 shares of the oil and gas producer’s stock, valued at approximately $1,915,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of EQT during the second quarter valued at $41,000. Anchor Investment Management LLC raised its position in EQT by 133.3% in the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares during the last quarter. Private Trust Co. NA lifted its stake in EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 283 shares during the period. Cullen Frost Bankers Inc. bought a new position in EQT during the 2nd quarter valued at about $110,000. Finally, Banque Transatlantique SA purchased a new stake in shares of EQT during the 1st quarter valued at about $119,000. Institutional investors own 90.81% of the company’s stock.

Insider Activity at EQT

In related news, EVP J.E.B. Bolen sold 1,422 shares of EQT stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president owned 69,486 shares in the company, valued at approximately $3,668,165.94. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQT. Barclays decreased their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Wolfe Research boosted their target price on shares of EQT from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Wells Fargo & Company lowered their price target on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Stephens raised their price target on EQT from $60.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Finally, Piper Sandler upped their price objective on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $65.13.

EQT Price Performance

NYSE EQT opened at $54.52 on Tuesday. The business’s fifty day moving average is $56.56 and its 200 day moving average is $54.90. EQT Corporation has a fifty-two week low of $43.57 and a fifty-two week high of $62.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $34.03 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 0.43 and a beta of 0.62.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share. Sell-side analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from EQT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, November 5th. EQT’s dividend payout ratio is currently 22.60%.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.