Hobbs Group Advisors LLC Invests $84,000 in EQT Co. (NYSE:EQT)

Hobbs Group Advisors LLC bought a new position in EQT Co. (NYSE:EQT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,260 shares of the oil and gas producer’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Raymond James & Associates raised its holdings in shares of EQT by 16.4% during the second quarter. Raymond James & Associates now owns 739,589 shares of the oil and gas producer’s stock worth $27,350,000 after acquiring an additional 104,059 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of EQT by 4.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 938,133 shares of the oil and gas producer’s stock worth $34,692,000 after acquiring an additional 41,531 shares in the last quarter. Davis Investment Partners LLC raised its holdings in shares of EQT by 22.3% during the second quarter. Davis Investment Partners LLC now owns 30,591 shares of the oil and gas producer’s stock worth $1,138,000 after acquiring an additional 5,576 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of EQT by 72.4% during the second quarter. Swedbank AB now owns 189,407 shares of the oil and gas producer’s stock worth $7,004,000 after acquiring an additional 79,538 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on EQT shares. Truist Financial cut their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Wolfe Research assumed coverage on EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $32.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets raised their target price on EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.17.

Insider Buying and Selling at EQT

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

EQT Price Performance

NYSE EQT traded down $0.48 during trading on Tuesday, reaching $33.24. 6,334,484 shares of the company traded hands, compared to its average volume of 7,233,582. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50 day moving average price is $35.54 and its two-hundred day moving average price is $36.85. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 24.43 and a beta of 1.12. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23.

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

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, August 7th. EQT’s payout ratio is 45.65%.

EQT Company Profile

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.