EQT Co. (NYSE:EQT) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in EQT Co. (NYSE:EQT) by 96.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,495 shares of the oil and gas producer’s stock after selling 581,761 shares during the quarter. Wedge Capital Management L L P NC’s holdings in EQT were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Deltec Asset Management LLC boosted its stake in shares of EQT by 1.9% during the 2nd quarter. Deltec Asset Management LLC now owns 265,975 shares of the oil and gas producer’s stock worth $9,836,000 after acquiring an additional 5,000 shares in the last quarter. Farmers Trust Co. boosted its position in shares of EQT by 1.5% in the 2nd quarter. Farmers Trust Co. now owns 67,286 shares of the oil and gas producer’s stock valued at $2,488,000 after purchasing an additional 1,018 shares during the period. V Square Quantitative Management LLC increased its stake in EQT by 12.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 6,436 shares of the oil and gas producer’s stock worth $238,000 after purchasing an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in EQT by 8.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,243 shares of the oil and gas producer’s stock worth $1,081,000 after buying an additional 2,209 shares during the period. Finally, Wedmont Private Capital lifted its stake in EQT by 28.9% during the second quarter. Wedmont Private Capital now owns 9,233 shares of the oil and gas producer’s stock valued at $344,000 after buying an additional 2,070 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stephens reduced their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. TD Cowen assumed coverage on EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. Jefferies Financial Group lifted their target price on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $32.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $45.17.

EQT Stock Performance

NYSE:EQT traded up $0.06 during trading hours on Friday, hitting $31.84. 870,341 shares of the company traded hands, compared to its average volume of 7,199,292. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23. The firm has a 50-day moving average of $35.85 and a 200 day moving average of $36.87. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 23.04 and a beta of 1.12.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts forecast that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.98%. EQT’s dividend payout ratio is currently 45.65%.

Insider Buying and Selling at EQT

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

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.