Toby Rice Sells 96,983 Shares of EQT (NYSE:EQT) Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 96,983 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the completion of the transaction, the chief executive officer directly owned 2,334,924 shares in the company, valued at approximately $126,739,674.72. The trade was a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Price Performance

EQT stock traded down $0.30 on Tuesday, reaching $52.69. 5,707,127 shares of the company’s stock were exchanged, compared to its average volume of 8,884,794. The stock has a fifty day moving average of $57.94 and a 200-day moving average of $57.70. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24. The firm has a market cap of $32.95 billion, a PE ratio of 10.00 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. As a group, equities analysts predict that EQT Corporation will post 4.7 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s dividend payout ratio is currently 12.52%.

Institutional Trading of EQT

Large investors have recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the fourth quarter valued at $26,000. Aventura Private Wealth LLC acquired a new stake in EQT in the fourth quarter valued at $31,000. Fortitude Family Office LLC grew its holdings in EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 202 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of EQT in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the topic of a number of recent analyst reports. Evercore upped their price objective on EQT from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Piper Sandler upped their price objective on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. upped their price objective on EQT from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Capital One Financial upped their target price on EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Truist Financial started coverage on EQT in a report on Tuesday, March 24th. They issued a “buy” rating and a $74.00 target price on the stock. Two equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

EQT Company 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.