EQT Co. (NYSE:EQT) Short Interest Down 8.2% in November

EQT Co. (NYSE:EQT) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 20,690,000 shares, a decline of 8.2% from the November 15th total of 22,540,000 shares. Based on an average daily volume of 7,310,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

EQT has been the subject of a number of recent research reports. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Morgan Stanley increased their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Stephens boosted their target price on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of EQT in a research note on Friday, December 6th. They issued a “market perform” rating and a $50.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.11.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by insiders.

Institutional Investors Weigh In On EQT

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT in the third quarter worth $562,494,000. State Street Corp grew its holdings in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC raised its position in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Holocene Advisors LP purchased a new stake in EQT in the 3rd quarter worth about $97,979,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of NYSE EQT opened at $45.59 on Monday. EQT has a twelve month low of $30.02 and a twelve month high of $48.02. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $41.00 and a two-hundred day moving average of $37.41. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 54.27 and a beta of 1.14.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

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.