Cullen Frost Bankers Inc. Has $9.99 Million Stake in EQT Corporation $EQT

Cullen Frost Bankers Inc. increased its position in shares of EQT Corporation (NYSE:EQT) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,352 shares of the oil and gas producer’s stock after buying an additional 32,921 shares during the period. Cullen Frost Bankers Inc.’s holdings in EQT were worth $9,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its holdings in EQT by 5,057.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,756 shares of the oil and gas producer’s stock worth $362,000 after buying an additional 6,625 shares during the last quarter. Elyxium Wealth LLC acquired a new position in EQT during the fourth quarter worth $49,000. L & S Advisors Inc increased its holdings in EQT by 5.6% during the fourth quarter. L & S Advisors Inc now owns 57,308 shares of the oil and gas producer’s stock worth $3,072,000 after buying an additional 3,045 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in EQT by 18.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 5,220 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 798 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in EQT by 4.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock worth $633,000 after buying an additional 456 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Vicky A. Bailey sold 4,116 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lesley Evancho sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the sale, the insider directly owned 184,607 shares of the company’s stock, valued at $11,203,798.83. This represents a 9.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 65,274 shares of company stock worth $3,989,120. 0.72% of the stock is owned by company insiders.

EQT Trading Down 3.2%

EQT stock opened at $57.86 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The company’s 50-day simple moving average is $60.34 and its 200 day simple moving average is $57.93. EQT Corporation has a 52 week low of $48.47 and a 52 week high of $68.24. The company has a market capitalization of $36.19 billion, a PE ratio of 10.98 and a beta of 0.59.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the company posted $1.18 earnings per share. As a group, sell-side analysts anticipate that EQT Corporation will post 4.69 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 6th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.66 annualized dividend and a yield of 1.1%. EQT’s dividend payout ratio is currently 12.52%.

Wall Street Analyst Weigh In

Several equities analysts have commented on EQT shares. TD Securities upgraded shares of EQT to a “strong-buy” rating in a report on Friday, February 20th. Citigroup upped their price objective on shares of EQT from $66.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Siebert Williams Shank upped their price objective on shares of EQT from $59.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 26th. Truist Financial assumed coverage on shares of EQT in a report on Tuesday, March 24th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of EQT from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

EQT Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.