PNC Financial Services Group Inc. Sells 7,881 Shares of EQT Co. (NYSE:EQT)

PNC Financial Services Group Inc. cut its holdings in EQT Co. (NYSE:EQT) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,660 shares of the oil and gas producer’s stock after selling 7,881 shares during the period. PNC Financial Services Group Inc.’s holdings in EQT were worth $4,677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EQT. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in EQT during the third quarter valued at $358,000. Phocas Financial Corp. purchased a new position in shares of EQT during the 3rd quarter valued at about $1,171,000. Prospera Financial Services Inc grew its stake in shares of EQT by 19.0% during the 3rd quarter. Prospera Financial Services Inc now owns 10,471 shares of the oil and gas producer’s stock valued at $384,000 after acquiring an additional 1,669 shares during the period. Whalen Wealth Management Inc. raised its stake in EQT by 153.0% during the 3rd quarter. Whalen Wealth Management Inc. now owns 28,696 shares of the oil and gas producer’s stock worth $1,051,000 after acquiring an additional 17,353 shares during the period. Finally, Caprock Group LLC purchased a new position in EQT during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Piper Sandler boosted their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and set a $45.00 target price on shares of EQT in a research report on Friday, September 13th. BMO Capital Markets boosted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group increased their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Down 2.1 %

NYSE EQT opened at $45.92 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 54.67 and a beta of 1.06. The company has a fifty day moving average of $38.20 and a two-hundred day moving average of $36.98.

EQT (NYSE:EQT) last released 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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts predict that EQT Co. will post 1.35 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.37%. 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.