Chevy Chase Trust Holdings LLC Reduces Stock Position in EQT Corporation (NYSE:EQT)

Chevy Chase Trust Holdings LLC decreased its position in EQT Corporation (NYSE:EQT) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,008 shares of the oil and gas producer’s stock after selling 89,375 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of EQT worth $18,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp raised its position in EQT by 18.0% during the 4th quarter. Truist Financial Corp now owns 28,638 shares of the oil and gas producer’s stock valued at $1,321,000 after purchasing an additional 4,375 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 762 shares during the period. Global Retirement Partners LLC raised its holdings in shares of EQT by 86.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,696 shares of the oil and gas producer’s stock valued at $124,000 after acquiring an additional 1,249 shares in the last quarter. Ieq Capital LLC purchased a new stake in EQT in the fourth quarter worth $227,000. Finally, First Horizon Advisors Inc. lifted its stake in EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 298 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Trading Down 3.4%

NYSE:EQT opened at $58.28 on Thursday. The stock has a market cap of $34.89 billion, a price-to-earnings ratio of 102.25, a PEG ratio of 0.37 and a beta of 0.65. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average price is $54.68 and its 200-day moving average price is $51.40. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, equities research analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.08%. EQT’s payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQT. TD Cowen upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. Piper Sandler raised their price objective on shares of EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Scotiabank reaffirmed a “sector perform” rating and set a $62.00 price objective (up from $57.00) on shares of EQT in a research report on Thursday, May 22nd. Wall Street Zen lowered EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Finally, Roth Capital started coverage on EQT in a research note on Tuesday. They issued a “buy” rating and a $69.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus target price of $58.00.

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.