EQT Corporation $EQT Shares Bought by Permanens Capital L.P.

Permanens Capital L.P. boosted its stake in shares of EQT Corporation (NYSE:EQT) by 314.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,320 shares of the oil and gas producer’s stock after purchasing an additional 12,381 shares during the period. Permanens Capital L.P.’s holdings in EQT were worth $868,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Reaves W H & Co. Inc. raised its holdings in shares of EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after acquiring an additional 132,741 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of EQT by 21.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock worth $9,988,000 after buying an additional 32,921 shares during the last quarter. BOKF NA lifted its holdings in EQT by 25.9% in the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after acquiring an additional 28,427 shares during the last quarter. Allstate Corp raised its position in EQT by 114.0% in the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock valued at $2,601,000 after purchasing an additional 25,852 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in EQT by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after purchasing an additional 48,587 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

EQT has been the topic of several research analyst reports. Citigroup reduced their price objective on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Freedom Capital raised EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Barclays lowered their target price on EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Truist Financial reduced their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.10.

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock worth $15,005,076 in the last 90 days. 0.72% of the stock is currently owned by insiders.

EQT Trading Up 1.5%

NYSE:EQT opened at $54.79 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The stock has a market cap of $34.27 billion, a P/E ratio of 12.71 and a beta of 0.58. The stock has a 50-day simple moving average of $52.17 and a 200-day simple moving average of $56.43.

EQT (NYSE:EQT) last posted its earnings results 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 net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $0.45 earnings per share. The company’s quarterly revenue was down 29.2% on a year-over-year basis. As a group, analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT’s dividend payout ratio (DPR) is presently 15.31%.

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.