EQT Co. (NYSE:EQT) Stake Reduced by Chatham Capital Group Inc.

Chatham Capital Group Inc. reduced its stake in shares of EQT Co. (NYSE:EQT) by 25.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,620 shares of the oil and gas producer’s stock after selling 9,580 shares during the quarter. Chatham Capital Group Inc.’s holdings in EQT were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EQT. Private Wealth Management Group LLC bought a new position in shares of EQT in the fourth quarter worth $30,000. BKM Wealth Management LLC acquired a new stake in shares of EQT in the fourth quarter valued at $40,000. Principal Securities Inc. acquired a new stake in shares of EQT in the fourth quarter valued at $51,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of EQT by 52.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 539 shares during the period. Finally, CX Institutional acquired a new stake in shares of EQT in the fourth quarter valued at $64,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.8 %

Shares of NYSE EQT traded down $0.30 during mid-day trading on Friday, reaching $36.98. 9,817,030 shares of the company traded hands, compared to its average volume of 6,714,432. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $16.33 billion, a PE ratio of 26.80 and a beta of 1.06. The company’s fifty day moving average is $39.87 and its two-hundred day moving average is $37.65. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 EPS. On average, analysts expect that EQT Co. will post 1.05 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio is 45.65%.

Insider Activity

In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EQT shares. Scotiabank upped their price objective on EQT from $52.00 to $54.00 and gave the company a “sector outperform” rating in a report on Thursday, May 9th. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 target price (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. Mizuho upped their target price on EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 price objective (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group increased their price objective on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, EQT has an average rating of “Hold” and an average price target of $45.24.

About EQT

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.