Westhampton Capital LLC Makes New Investment in EQT Co. (NYSE:EQT)

Westhampton Capital LLC purchased a new stake in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,700 shares of the oil and gas producer’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EQT. HM Payson & Co. purchased a new stake in shares of EQT during the third quarter worth $25,000. Truvestments Capital LLC purchased a new stake in EQT during the 3rd quarter worth about $30,000. Quarry LP boosted its stake in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. Hexagon Capital Partners LLC grew its holdings in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of EQT during the third quarter valued at about $36,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of EQT stock opened at $50.68 on Thursday. The firm has a market cap of $30.24 billion, a PE ratio of 60.34 and a beta of 1.12. The company’s fifty day simple moving average is $47.04 and its two-hundred day simple moving average is $39.55. 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 12-month low of $30.02 and a 12-month high of $54.85.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that EQT Co. will post 1.42 EPS for the current year.

Wall Street Analyst Weigh In

EQT has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Truist Financial raised their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $49.94.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

EQT 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.