Scientech Research LLC Takes $498,000 Position in EQT Co. (NYSE:EQT)

Scientech Research LLC acquired a new position in shares of EQT Co. (NYSE:EQT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,459 shares of the oil and gas producer’s stock, valued at approximately $498,000.

Several other large investors have also made changes to their positions in EQT. California State Teachers Retirement System increased its holdings in shares of EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after purchasing an additional 18,804 shares during the period. Tower Research Capital LLC TRC increased its stake in EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after acquiring an additional 52,443 shares during the period. Cibc World Markets Corp raised its holdings in EQT by 162.4% in the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after acquiring an additional 32,409 shares in the last quarter. Third Point LLC bought a new stake in shares of EQT in the 4th quarter worth approximately $75,387,000. Finally, Cetera Investment Advisers acquired a new stake in shares of EQT during the 1st quarter worth approximately $2,274,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

Shares of NYSE:EQT opened at $36.53 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $16.13 billion, a P/E ratio of 26.47 and a beta of 1.06. The business has a 50-day moving average price of $33.27 and a two-hundred day moving average price of $36.44. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Equities analysts predict that EQT Co. will post 1.37 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.72%. The ex-dividend date was Wednesday, August 7th. EQT’s payout ratio is presently 45.65%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group upped their target price on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Truist Financial decreased their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Mizuho dropped their price target on shares of EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Stephens lowered their price objective on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Hold” and an average price target of $42.29.

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.