EQT Corporation $EQT Stock: Oak Grove Capital LLC Increases Holdings

Oak Grove Capital LLC lifted its holdings in shares of EQT Corporation (NYSE:EQT) by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 574,125 shares of the oil and gas producer’s stock after acquiring an additional 106,400 shares during the quarter. EQT accounts for about 1.3% of Oak Grove Capital LLC’s investment portfolio, making the stock its 16th biggest position. Oak Grove Capital LLC’s holdings in EQT were worth $27,880,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EQT. Wedmont Private Capital increased its holdings in EQT by 79.4% during the 3rd quarter. Wedmont Private Capital now owns 26,898 shares of the oil and gas producer’s stock worth $1,424,000 after purchasing an additional 11,901 shares during the last quarter. GAMMA Investing LLC raised its position in shares of EQT by 4.2% in the 3rd quarter. GAMMA Investing LLC now owns 16,445 shares of the oil and gas producer’s stock valued at $799,000 after purchasing an additional 656 shares in the last quarter. Invariant Investment Management boosted its stake in shares of EQT by 2.1% during the 3rd quarter. Invariant Investment Management now owns 18,815 shares of the oil and gas producer’s stock valued at $944,000 after buying an additional 381 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of EQT by 7.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,452 shares of the oil and gas producer’s stock valued at $459,000 after buying an additional 670 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its position in shares of EQT by 59.7% during the third quarter. YHB Investment Advisors Inc. now owns 18,716 shares of the oil and gas producer’s stock worth $909,000 after buying an additional 6,997 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

EQT stock opened at $52.78 on Friday. The stock’s 50 day simple moving average is $52.86 and its 200 day simple moving average is $54.64. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The firm has a market cap of $33.02 billion, a P/E ratio of 12.25 and a beta of 0.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, equities research analysts predict that EQT Corporation will post 3.90 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th were issued a $0.1650 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. EQT’s payout ratio is 15.31%.

Insider Activity at EQT

In related news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. This represents a 7.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EQT. Barclays cut their price target on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. JPMorgan Chase & Co. decreased their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Zacks Research raised shares of EQT from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Truist Financial cut their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Freedom Capital raised shares of EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

EQT Company Profile

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.