EQT (NYSE:EQT) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

EQT (NYSE:EQT) posted its earnings results on Tuesday. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12, Briefing.com reports. EQT had a return on equity of 4.55% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned ($0.17) EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis.

EQT Price Performance

NYSE:EQT traded up $0.05 during trading hours on Friday, reaching $34.43. The company had a trading volume of 4,052,131 shares, compared to its average volume of 7,114,805. The stock has a 50-day moving average of $38.46 and a two-hundred day moving average of $37.32. EQT has a one year low of $32.07 and a one year high of $45.23. The firm has a market capitalization of $15.20 billion, a PE ratio of 24.92 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Insider Buying and Selling at EQT

In other EQT news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other EQT news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, 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. Company insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Stephens cut their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday. Mizuho upped their price target on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Piper Sandler cut their price target on EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

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.