EQT Co. (NYSE:EQT) Sees Large Decline in Short Interest

EQT Co. (NYSE:EQT) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 20,690,000 shares, a decline of 8.2% from the November 15th total of 22,540,000 shares. Based on an average daily volume of 7,310,000 shares, the days-to-cover ratio is currently 2.8 days.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. HM Payson & Co. acquired a new position in EQT in the third quarter valued at $25,000. Innealta Capital LLC purchased a new position in EQT during the 2nd quarter worth approximately $28,000. Truvestments Capital LLC acquired a new position in EQT during the third quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its position in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup raised their target price on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $57.00 in a report on Monday. JPMorgan Chase & Co. raised their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. BMO Capital Markets increased their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.61.

EQT Price Performance

EQT stock opened at $44.20 on Wednesday. The stock has a market cap of $26.37 billion, a P/E ratio of 52.62 and a beta of 1.14. The company has a fifty day simple moving average of $41.29 and a 200-day simple moving average of $37.46. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts expect that EQT will post 1.37 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.43%. EQT’s payout ratio is currently 75.00%.

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.