Stock Traders Purchase Large Volume of EQT Put Options (NYSE:EQT)

EQT Corporation (NYSE:EQT) was the target of unusually large options trading on Wednesday. Stock traders purchased 57,425 put options on the company. This is an increase of 259% compared to the typical volume of 15,977 put options.

EQT Stock Down 1.0%

Shares of EQT stock traded down $0.52 during midday trading on Wednesday, reaching $49.29. 1,862,543 shares of the stock were exchanged, compared to its average volume of 8,711,604. EQT has a 1 year low of $47.94 and a 1 year high of $68.24. The company’s 50 day moving average is $53.72 and its two-hundred day moving average is $56.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm has a market cap of $30.83 billion, a PE ratio of 9.34 and a beta of 0.55.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business posted $1.18 EPS. On average, equities research analysts predict that EQT will post 4.26 EPS for the current year.

Insider Buying and Selling at EQT

In related news, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Toby Z. Rice sold 1,731 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $53.46, for a total transaction of $92,539.26. Following the completion of the sale, the chief executive officer directly owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. This trade represents a 0.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 102,830 shares of company stock worth $5,602,913. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Greykasell Wealth Strategies Inc. purchased a new stake in shares of EQT during the fourth quarter valued at $26,000. Fortitude Family Office LLC raised its position in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in EQT in the 4th quarter worth about $31,000. Elyxium Wealth LLC bought a new position in EQT during the 4th quarter valued at about $49,000. Finally, Root Financial Partners LLC lifted its stake in EQT by 35.4% during the 1st 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 during the period. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on EQT shares. Roth Capital reiterated a “neutral” rating on shares of EQT in a research report on Tuesday, April 14th. Wolfe Research lifted their price objective on shares of EQT from $64.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Jefferies Financial Group lowered their price target on EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Capital One Financial lifted their price target on EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.

About EQT

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.