Jefferies Financial Group Weighs in on EQT Co.’s Q2 2019 Earnings (NYSE:EQT)

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EQT Co. (NYSE:EQT) – Stock analysts at Jefferies Financial Group dropped their Q2 2019 EPS estimates for EQT in a note issued to investors on Monday, July 15th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas producer will earn $0.03 per share for the quarter, down from their prior estimate of $0.11. Jefferies Financial Group also issued estimates for EQT’s Q3 2019 earnings at ($0.17) EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.60 EPS, Q1 2020 earnings at $0.17 EPS, Q2 2020 earnings at ($0.13) EPS, Q3 2020 earnings at ($0.18) EPS, Q4 2020 earnings at $0.22 EPS, FY2020 earnings at ($0.25) EPS, Q1 2021 earnings at $0.16 EPS and Q2 2021 earnings at ($0.20) EPS.

Several other research firms have also weighed in on EQT. MKM Partners reissued a “neutral” rating and issued a $71.00 price objective on shares of Hess in a research report on Tuesday, April 16th. Macquarie initiated coverage on Antero Resources in a research note on Wednesday, May 29th. They set an “underperform” rating and a $5.50 price target for the company. Wells Fargo & Co downgraded Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, May 20th. TD Securities cut their target price on West Fraser Timber from C$83.00 to C$80.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.38.

EQT stock opened at $15.25 on Wednesday. The stock has a 50-day simple moving average of $16.15. EQT has a 1-year low of $14.28 and a 1-year high of $30.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.34 and a beta of 0.60.

EQT (NYSE:EQT) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.17 billion. EQT had a positive return on equity of 4.51% and a negative net margin of 10.17%. EQT’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, August 8th. This represents a $0.12 annualized dividend and a yield of 0.79%. EQT’s payout ratio is 7.06%.

In other EQT news, CEO Robert Joseph Mcnally purchased 13,572 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $18.37 per share, for a total transaction of $249,317.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Erin R. Centofanti sold 2,970 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $16.03, for a total transaction of $47,609.10. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of EQT during the first quarter valued at about $29,000. Hilton Capital Management LLC bought a new position in EQT in the first quarter worth about $65,000. Bronfman E.L. Rothschild L.P. raised its stake in EQT by 287.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 3,103 shares in the last quarter. Hunter Associates Investment Management LLC bought a new position in EQT in the first quarter worth about $200,000. Finally, NuWave Investment Management LLC raised its stake in EQT by 30,197.6% in the second quarter. NuWave Investment Management LLC now owns 12,725 shares of the oil and gas producer’s stock worth $201,000 after buying an additional 12,683 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Earnings History and Estimates for EQT (NYSE:EQT)

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