EQT Co. (NYSE:EQT) Short Interest Down 6.6% in December

EQT Co. (NYSE:EQT) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 19,330,000 shares, a drop of 6.6% from the November 30th total of 20,690,000 shares. Based on an average trading volume of 7,270,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research note on Tuesday, December 3rd. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Finally, StockNews.com upgraded EQT to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.61.

EQT Stock Up 5.1 %

Shares of EQT stock opened at $46.59 on Tuesday. The stock’s fifty day moving average price is $42.62 and its 200 day moving average price is $37.67. EQT has a 1-year low of $30.02 and a 1-year high of $48.02. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 55.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. EQT’s dividend payout ratio is currently 75.00%.

Insider Transactions at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in EQT. Wellington Management Group LLP raised its stake in EQT by 38.7% in 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 acquiring an additional 20,700,921 shares during the last quarter. State Street Corp raised its stake in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT during the third quarter worth about $562,494,000. Geode Capital Management LLC boosted its position in EQT by 34.4% in 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 last quarter. Finally, Clearbridge Investments LLC increased its holdings in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.