EFG International AG Purchases Shares of 110,660 EQT Corporation $EQT

EFG International AG acquired a new stake in EQT Corporation (NYSE:EQT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 110,660 shares of the oil and gas producer’s stock, valued at approximately $5,883,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of EQT in the second quarter worth approximately $3,204,125,000. Bank of New York Mellon Corp purchased a new position in shares of EQT in the second quarter worth $512,148,000. The Manufacturers Life Insurance Company bought a new stake in EQT during the 2nd quarter valued at $163,705,000. Legal & General Group Plc bought a new stake in EQT during the 2nd quarter valued at $127,420,000. Finally, Deutsche Bank AG purchased a new stake in EQT during the 2nd quarter valued at $119,461,000. Institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock worth $15,005,076 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EQT. UBS Group cut their target price on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Capital One Financial upped their price target on EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Truist Financial cut their price objective on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Finally, Citigroup reduced their target price on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average target price of $68.10.

EQT Stock Up 0.4%

Shares of NYSE:EQT opened at $54.00 on Wednesday. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The firm has a market capitalization of $33.78 billion, a P/E ratio of 12.53 and a beta of 0.58. The stock has a 50 day moving average price of $52.10 and a 200-day moving average price of $56.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities research analysts anticipate that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is currently 15.31%.

EQT Company Profile

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.