Oxbow Advisors LLC Sells 933 Shares of EQT Co. (NYSE:EQT)

Oxbow Advisors LLC reduced its position in EQT Co. (NYSE:EQT) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,258 shares of the oil and gas producer’s stock after selling 933 shares during the quarter. Oxbow Advisors LLC’s holdings in EQT were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. Modera Wealth Management LLC bought a new position in shares of EQT during the third quarter valued at $562,494,000. State Street Corp lifted its holdings in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its holdings in shares of EQT by 34.4% during 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 acquiring an additional 3,582,418 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EQT by 386.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after acquiring an additional 3,454,741 shares during the period. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Jefferies Financial Group raised their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. StockNews.com upgraded EQT to a “sell” rating in a research note on Saturday, February 8th. Finally, Truist Financial raised their target price on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Hold” and an average target price of $52.17.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction 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 Price Performance

Shares of EQT stock opened at $50.15 on Friday. The stock has a 50-day moving average price of $49.67 and a 200 day moving average price of $41.72. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $29.96 billion, a price-to-earnings ratio of 125.37, a PEG ratio of 0.64 and a beta of 1.08. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Research analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.26%. EQT’s payout ratio is currently 157.50%.

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.