Insider Selling: EQT (NYSE:EQT) CEO Sells 1,731 Shares of Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 1,731 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the transaction, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Trading Down 0.6%

EQT traded down $0.30 during trading hours on Tuesday, reaching $52.69. 5,707,127 shares of the company’s stock traded hands, compared to its average volume of 8,884,794. The firm has a 50-day moving average price of $57.94 and a 200 day moving average price of $57.70. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $32.95 billion, a PE ratio of 10.00 and a beta of 0.55.

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

EQT Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on EQT shares. Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research report on Tuesday, April 14th. Stephens decreased their target price on EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. BMO Capital Markets decreased their target price on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Barclays lifted their target price on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. Finally, Capital One Financial lifted their target price on EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT in the 4th quarter worth $26,000. Aventura Private Wealth LLC bought a new position in shares of EQT in the 4th quarter worth $31,000. Fortitude Family Office LLC raised its position in shares of 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 acquiring an additional 280 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of EQT in the 4th quarter worth $49,000. Finally, Root Financial Partners LLC raised its position in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 202 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

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.