Arden Trust Co Cuts Stock Holdings in EQT Co. (NYSE:EQT)

Arden Trust Co reduced its stake in shares of EQT Co. (NYSE:EQT) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,357 shares of the oil and gas producer’s stock after selling 1,221 shares during the quarter. Arden Trust Co’s holdings in EQT were worth $272,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. grew its position in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after buying an additional 632,625 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of EQT by 27.9% during the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after acquiring an additional 4,339,407 shares in the last quarter. Finally, Capital World Investors lifted its stake in EQT by 1.5% in the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after acquiring an additional 265,297 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of several research analyst reports. Mizuho raised their target price on shares of EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Truist Financial reduced their target price on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Wolfe Research started coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price for the company. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Morgan Stanley raised their price objective on EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.50.

Insider Buying and Selling at EQT

In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of the firm’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 transaction, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

EQT Stock Down 1.9 %

Shares of EQT stock traded down $0.58 on Wednesday, reaching $30.23. The company’s stock had a trading volume of 10,023,185 shares, compared to its average volume of 7,208,125. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 21.91 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23. The firm’s fifty day simple moving average is $37.20 and its two-hundred day simple moving average is $37.10.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. EQT’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. Equities analysts anticipate that EQT Co. will post 1.4 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

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.