EQT (NYSE:EQT) Announces Quarterly Earnings Results

EQT (NYSE:EQT) posted its quarterly earnings data on Tuesday. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12, Briefing.com reports. EQT had a return on equity of 4.55% and a net margin of 12.45%. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year.

EQT Trading Down 2.1 %

NYSE EQT traded down $0.72 during trading hours on Thursday, reaching $34.38. The company had a trading volume of 11,092,889 shares, compared to its average volume of 7,137,470. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $15.18 billion, a P/E ratio of 25.43 and a beta of 1.12. The stock has a 50-day moving average of $38.58 and a 200 day moving average of $37.34. EQT has a 1-year low of $32.07 and a 1-year high of $45.23.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Insider Buying and Selling at EQT

In other news, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EQT. TD Cowen began coverage on shares of EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. Piper Sandler decreased their price target on shares of EQT from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial reduced their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday. Stephens dropped their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded EQT to a “sell” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.50.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.