GAMMA Investing LLC Buys 3,333 Shares of EQT Co. (NYSE:EQT)

GAMMA Investing LLC increased its stake in shares of EQT Co. (NYSE:EQT) by 65.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,400 shares of the oil and gas producer’s stock after acquiring an additional 3,333 shares during the quarter. GAMMA Investing LLC’s holdings in EQT were worth $387,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. National Bank of Canada FI grew its stake in shares of EQT by 33.6% in the 2nd quarter. National Bank of Canada FI now owns 121,231 shares of the oil and gas producer’s stock valued at $4,448,000 after buying an additional 30,492 shares during the period. Victory Capital Management Inc. grew its stake in EQT by 26.4% in the second quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock valued at $8,624,000 after acquiring an additional 48,741 shares during the period. Arizona State Retirement System grew its stake in EQT by 7.0% in the second quarter. Arizona State Retirement System now owns 115,011 shares of the oil and gas producer’s stock valued at $4,253,000 after acquiring an additional 7,532 shares during the period. Candriam S.C.A. increased its holdings in shares of EQT by 9.7% during the second quarter. Candriam S.C.A. now owns 27,869 shares of the oil and gas producer’s stock valued at $1,031,000 after acquiring an additional 2,459 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of EQT by 940.4% during the second quarter. Savant Capital LLC now owns 60,654 shares of the oil and gas producer’s stock worth $2,243,000 after purchasing an additional 54,824 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on EQT. Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler boosted their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research report on Monday. Citigroup boosted their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Stephens raised their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One research 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 data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $47.78.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value 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 trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

EQT Stock Performance

NYSE EQT opened at $47.56 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $28.38 billion, a PE ratio of 56.62 and a beta of 1.12. EQT Co. has a 52-week low of $30.02 and a 52-week high of $48.33. The company has a 50-day simple moving average of $43.42 and a 200 day simple moving average of $37.89.

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

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.32%. EQT’s payout ratio is 75.00%.

About EQT

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.