Rhumbline Advisers Acquires 118,568 Shares of EQT Co. (NYSE:EQT)

Rhumbline Advisers raised its holdings in shares of EQT Co. (NYSE:EQTGet Rating) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 905,868 shares of the oil and gas producer’s stock after acquiring an additional 118,568 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of EQT worth $31,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EQT. Steward Partners Investment Advisory LLC bought a new stake in EQT during the first quarter valued at about $31,000. Kathleen S. Wright Associates Inc. bought a new stake in EQT during the second quarter valued at about $32,000. First Command Bank bought a new stake in EQT during the second quarter valued at about $46,000. Penserra Capital Management LLC bought a new stake in EQT during the first quarter valued at about $47,000. Finally, CoreCap Advisors LLC bought a new stake in EQT during the second quarter valued at about $61,000. 95.63% of the stock is owned by institutional investors.

EQT Stock Down 0.5 %

Shares of NYSE:EQT opened at $43.56 on Thursday. EQT Co. has a 1 year low of $17.95 and a 1 year high of $51.97. The business has a 50 day simple moving average of $42.34 and a two-hundred day simple moving average of $42.52. The firm has a market capitalization of $15.99 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 0.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.59 and a quick ratio of 0.59.

EQT (NYSE:EQTGet Rating) last announced its earnings results on Wednesday, October 26th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.74 billion. On average, equities analysts predict that EQT Co. will post 4.25 EPS for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. EQT’s dividend payout ratio (DPR) is presently 13.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EQT shares. Royal Bank of Canada reduced their target price on EQT from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. The Goldman Sachs Group lifted their target price on EQT from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. BMO Capital Markets raised EQT from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $65.00 in a report on Monday, September 19th. TD Securities reduced their target price on EQT from $62.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Finally, Credit Suisse Group reduced their target price on EQT to $60.00 in a report on Tuesday, November 1st. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $59.88.

Insider Buying and Selling at EQT

In related news, EVP William E. Jordan sold 98,783 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $41.51, for a total value of $4,100,482.33. Following the completion of the sale, the executive vice president now owns 297,787 shares in the company, valued at $12,361,138.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

EQT Company Profile

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EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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